According to the report, the increase was due to exports and investments, in addition to a decrease in government spending
In the last three months of 2020, U.S registered a 4.1% growth in the START compared to the same period last year. The projection was released on Thursday, 25, by the Office of Economic Analysis, which increased a tenth percentage in the preliminary calculation that had been made about the 4th quarter. The result for the whole of 2020, however, has not changed: over the past year, the most important economy in the world has had ups and downs due to the new coronavirus pandemic. GDP fell at an annualized rate of 5% in the first quarter, plummeted 31.4% in the second, and recovered between July and September by 33.4%.
The 3.5% annual contraction in US economic activity was the largest since the end of the Second World War, and there was a 2.2% decline in GDP in 2019. The growth in the index between October and December was due to increases in exports, non-residential fixed investment and investment in private inventories, partially offset by lower government spending, added the report by the Office of Economic Analysis. “(The report) reflects both the continued economic recovery, after the deep falls of the first half of the year, and the continued impact of the pandemic, including the new restrictions and stoppage of activities”, he concludes.
* With information from EFE