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

Etiam ultrices mollis faucibus

Maecenas pharetra risus sit amet gravida fermentum. Mauris vitae magna maximus, tempus neque ac, feugiat velit. Etiam a enim nec quam fringilla cursus. In porttitor elit mi, at tempor lorem fringilla vitae. Proin in egestas purus. Cras vestibulum efficitur tempor. Morbi magna nisl, sollicitudin nec quam in, tempor convallis dolor. Nullam eu urna magna. Suspendisse…

Read More »
Jennifer Gnana

Saudi Arabia, Iraq sign agreement to link electrical power grids

Highlights Iraq under pressure to stop Iranian energy imports Gulf oil exporters are connected through regional grid Iraq, Jordan have previously discussed joining Saudi Arabia and Iraq signed a memorandum of understanding Jan. 25 to connect their electricity grids, as OPEC’s two largest oil producers work together to help reduce Baghdad’s dependence on Iranian energy

Read More »
Jacqueline Holman

UK to review anti-dumping measures on heavy steel plate from China

Highlights To check whether measures are still suitable for UK Previous trade remedy investigations done by EU Commission Affected businesses can contribute to the review The UK’s Trade Remedies Authority body is to review anti-dumping measures on heavy steel plate from China to make sure they are still suitable, the government said Jan. 25. Not

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