The U.S. economy grew at an annual rate of 7% in the fourth quarter of 2021, slightly faster than originally estimated, as Americans increased their spending and businesses continued to build their inventories and invest in the midst of strong recovery after the catastrophic 2020.
Previous data had shown GDP growth of 6.9%. The revised measurement confirmed analysts’ estimates in a WSJ poll for 7% growth.
For 2021 overall, US GDP grew by 5.7%, showing the largest annual increase since 1984.
However, the resurgence of the pandemic at the end of 2021 due to the micron mutation hit economic activity, with growth slowing to less than 2% in the first quarter, according to analysts.
Source: Capital
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