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By Harriet Torry and Eric Morath The U.S. economy is expected to have recovered most but not all of its losses last year from the pandemic's initial shock, with growth that resumed in the second half of 2020 projected to pick up steam this year. U.S. gross domestic product figures set to be released on Thursday are expected to show it grew at a 4.3% annual rate in the fourth quarter, according to economists surveyed by The Wall Street Journal. Such an increase would add to the record gain in the third quarter and bring output closer to where it stood before the pandemic hit hard l...

U.S. Economy Shrank in 2020 Despite Fourth-Quarter Growth © David Zalubowski/Associated Press The U.S. economy grew rapidly in the fourth quarter of 2020 and is forecast to continue recovering this year from the effects of the coronavirus pandemic. Despite a strong rebound in the second half of last year, the economy contracted 3.5% in 2020, measured year over year, the first decline since the financial crisis and the largest since 1946. Measured from the fourth quarter to the same quarter a year ago, the economy shrank 2.5%. U.S. gross domestic product—the value of all goods and services...

Provided by Dow Jones By Harriet Torry The U.S. economy grew steadily in the fourth quarter of 2020 and is forecast to continue recovering this year from the effects of the pandemic. Yet despite a strong rebound in the second half of last year, the economy contracted 3.5% in 2020, measured year over year, the first decline since the 2008 financial crisis and the largest since 1946. Measured from the fourth quarter to the same quarter a year earlier the economy shrank 2.5% Fourth-quarter U.S. gross domestic product -- the value of all goods and services pro...

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The Finance 202: Biden fills out economic team as Trump's coalition continues to implode Tory Newmyer President-elect Joe Biden’s government is coming together as President Trump’s falls apart. The incoming president will nominate Rhode Island Gov. Gina Raimondo for commerce secretary and Boston Mayor Marty Walsh (D) for labor secretary. He is also set to tap Isabel Guzman, director of California’s Office of the Small Business Advocate, to lead the Small Business Administration; and Don Graves, a former economic advisor who went on to work at KeyBank, to serve as deput...