The US economy grew at a rate of 1.6% in the first quarter of the year

Expansion newspaper – Madrid

US economy It recorded a growth of 1.6% in the first quarter of the year, without changes compared to the calculations made a month ago, and a sign of the ongoing economic recovery after the crisis caused by the Covid-19 epidemic, the office said last Thursday. Economic Analysis (BEA).

This is the third The latest estimate given by the US government on economic activity at the beginning of the year after the annual GDP contraction of 3.5% in 2020.

Notice He again cited the reasons for the recovery in the first quarter of 2021 “the reopening of businesses, and the government’s ongoing response regarding the pandemic,” referring to direct cash transfers and boosting unemployment benefits.

Regarding the annual rate, the growth that the US economy would record if it maintained this rate throughout the year and the most followed indicator in the country, the figure would be 6.4%.

With the vaccination campaign progressing, and more than 50% of the US population fully vaccinated, a marked recovery in economic activity is expected in the second half of the year.

US President Joe Biden, who proposed a multi-million dollar plan to invest in infrastructure and social protection programs, confirmed that US growth in 2021 could exceed 6% annually, something that has not happened in the country since the 1980s.

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