Maris Research

U.S. GDP Expanded in the Fourth Quarter

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

The U.S. economy continued to grow in the fourth quarter of 2020 but was remained below pre-recession levels. This quarter’s growth reflected both the economic recovery from the current recession and the ongoing impact of the COVID-19 pandemic.

According to the “advance” estimate  released by the Bureau of Economic Analysis (BEA), real gross domestic product (GDP) increased at an annual rate of 4.0% in the fourth quarter of 2020, after a 33.4% increase in the third quarter. It marked the second consecutive quarter of growth after the sharpest contraction on record in the second quarter of 2020. This quarter’s growth rate was above NAHB’s forecast of a 2.8% increase.

For the full year, real GDP contracted 3.5% in 2020, compared with a 2.2% increase in 2019. This marked the first contraction since 2009 and the worst recession since 1946. It was close to NAHB’s 2020 forecast of -3.6%.

The increase in real GDP in the fourth quarter of 2020 reflected increases in personal consumption expenditures (PCE), which alone accounts for about 70 percent of the overall economy,  as well as gains for private inventory investment, nonresidential fixed investment, residential

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


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


What is Flywheel?


More Articles.

Yahoo News

What’s Missing From Warren Buffett’s Annual Letter

Berkshire Hathaway CEO Warren Buffett. Paul Morigi/Getty Images for Fortune/Time Inc. The highlight of Warren Buffett’s annual shareholder letter was his discussion of Berkshire Hathaway’s stepped-up stock-buyback activity, which totaled $9 billion in each of the final two quarters of 2020 and $24.7 billion for the year, up from $4.9 billion in 2019. That should

Read More »
Nat. Assn. of Realtors

Pending Home Sales Retreat 2.8% in January, but Climb From Last Year

WASHINGTON (February 25, 2021) – Pending home sales took a step backward in January as inventory constraints continue to hold back prospective buyers, according to the National Association of Realtors®. The South was the lone region with a modest gain from the month prior, while the other three major U.S. regions experienced month-over-month decreases in

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