After corona treatment in 2020, the US economy returned to profit last year. The world’s largest economy is projected to grow at 5.7 percent of gross domestic product (GDP) in 2021, the strongest growth since 1984.
The U.S. Department of Commerce released initial data on Thursday. This growth is due to higher consumer spending, investment and exports. GDP rose to less than $ 23,000 billion last year. Growth has been even higher since 1984 (+7.2 percent). In 2020, there was a contraction of 3.5 percent.
The growth is higher than the analyst military predicted. The Treasury Department (+5.3 percent) and the Federal Reserve (+5.5 percent) had also forecast lower numbers earlier. Analysts expect 3 to 4 percent growth in 2022. This figure is low due to problems in the global supply chain and the expected tight monetary policy of the central bank.
In the fourth quarter, GDP grew by 6.9 percent year-on-year. In addition to consumer spending and investment, the US government’s multi-billion dollar economic package boosted growth as well as the inventory structure. Growth was only 2.3 percent in the third quarter. These quarterly figures are, as usual in the United States, ‘annual’. Compared to the previous quarter, the quarterly performance was imaginatively extended throughout the year. The statistics show what the annual growth will be if this pace continues for another 3 quarters.
On Monday, the European Statistics Office will release its first estimate of fourth-quarter growth in the Eurostat Eurozone.
The U.S. Department of Commerce released initial data on Thursday. This growth is due to higher consumer spending, investment and exports. GDP rose to less than $ 23,000 billion last year. Growth has been even higher since 1984 (+7.2 percent). In 2020, there was a contraction of 3.5 percent. The growth is higher than the analyst military predicted. The Treasury Department (+5.3 percent) and the Federal Reserve (+5.5 percent) had also forecast lower numbers earlier. By 2022, analysts expect growth of 3 to 4 percent. This figure is low due to problems in the global supply chain and the expected tight monetary policy of the central bank. In the fourth quarter, GDP grew by 6.9 percent year-on-year. In addition to consumer spending and investment, the US government’s multi-billion dollar economic package boosted growth and created inventory. Growth was only 2.3 percent in the third quarter. These quarterly figures are, as usual in the United States, ‘annual’. Compared to the previous quarter, the quarterly performance was imaginatively extended throughout the year. The statistics show what the annual growth will be if this pace continues for another 3 quarters. On Monday, the European Statistics Office will release its first estimate of fourth-quarter growth in the Eurostat Eurozone.
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