Maris Research

Strong Gain for Consumption in the First Quarter of 2021

Share on facebook
Share on facebook
Share on twitter
Share on linkedin

In the first quarter of 2021, real GDP surged and approached its pre-pandemic level as the economy continued to reopen. This quarter’s growth reflected strong gains for consumer and government spending.

According to the “advance” estimate  released by the Bureau of Economic Analysis (BEA), real gross domestic product (GDP) increased at an annual rate of 6.4% in the first quarter of 2021, after a 4.3% increase in the fourth quarter of 2020. It marked the fastest growth rate since the third quarter of 2003 (excluding the third quarter of 2020 of course) and was above NAHB’s forecast of a 5.2% increase.

The gain in real GDP in the first quarter of 2021 reflected increases in personal consumption expenditures (PCE), which alone accounts for about 70 percent of the overall economy, as well as gains for nonresidential fixed investment, residential fixed investment and government spending.

Consumer spending, the backbone of the U.S. economy, rose at an annual rate of 10.7%, following an increase of 2.3% in the fourth quarter. The expansion in consumer spending reflected increases for both services and goods. The increase for the service economy is a

... continue reading 3rd party author's post at source website

order-1586392_1280

Can't Get Enough Freebies? Subscribe to our Newsletter!

We will send you free research and analysis summarized at the end of each month.

Newsletter Sign up

Top Posts

PLACE HOLDER FOR AD PAGE – SEE 18:– OF VIDEO.€

What is Flywheel?

notes-150587_1280

More Articles.

rjmaris

Bank Of International Settlements Publishes A Blueprint For Instant Cross Border Payments Called Nexus

https://thumbor.forbes.com/thumbor/fit-in/0x0/filters:format(jpg)/https://specials-images.forbesimg.com/imageserve/61053e73e28745575edff7be/0x0.jpgIt is not the BIS, also known as the Central Bank of Central banks, but its innovation hub that has published this blueprint with assistance from the Monetary Authority of Singapore (MAS) and National Payment Corporation of India (NPCI). Cross-border payments is the knottiest problem in sovereign money. The term sovereign is used loosely, as

Read More »

Get content like this sent directly to your inbox!

Follow OnceBurned

Share on facebook
Share on twitter
Share on linkedin
Scroll to Top