US GDP grows 1.6% and moves away from Europe

The United States began to accelerate economic growth. Your gross domestic product (GDP) It posted an expansion of 1.6% in the first three months of 2021Compared to 1.1% growth in the fourth quarter of 2020, according to the second reading of data published by the Department of Commerce’s Bureau of Economic Analysis, which indicated that the US economy was only 0.9% lower than the level recorded in the fourth quarter of 2019, before the pandemic.

If we look at the annual numbers, the growth of The world’s largest economy reached 6.4% in the first quarter of 2021. After it posted a 4.3% expansion between October and December last year

Thus, at the beginning of 2021, the US economy increased its gap relative to the rest of the major economies, After the Eurozone returns to recession with a 0.6% drop in GDP In the first quarter after contracting by 0.7% in the last three months of 2020.

For this part, Japan’s GDP contracted by 1.3% in the first quarter, Compared to the 2.8% expansion in the previous three months, while the growth of the Chinese economy slowed to 0.6% from the 2.6% recorded between October and December last year.

Finally, real GDP growth in the first quarter reflected increases in personal consumption spending, as well as non-residential fixed investment, federal government spending, fixed residential investment, local and state government spending, and what? Partially offset by setbacks in inventory investment Private companies and exports.

See also  The Group of Twenty fails to provide 60 billion dollars in aid to poor countries

Aileen Morales

"Beer nerd. Food fanatic. Alcohol scholar. Tv practitioner. Writer. Troublemaker. Falls down a lot."

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top