U.S. Economy Contracted in 2020, but Growth Expected This Year | Hellenic Shipping News Worldwide
U.S. Economy Contracted in 2020, but Growth Expected This Year The U.S. economy’s 4% fourth-quarter increase wasn’t enough to ward off a full-year contraction from the pandemic’s initial shock, but growth is expected in 2021. U.S. gross domestic product — the value of all goods and services produced across the economy — rose at a 4.0% seasonally and inflation adjusted annual rate in the final quarter of last year, the Commerce Department said on Thursday, joining a record gain in the third quarter to further reduce losses from earlier in the pandemic. While the pace of consumer spen...
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