Anticipating 2021 Boom, Q4 GDP Revised up Slightly

Associated Press (02/25/21) Crutsinger, Martin

The economy grew at a 4.1% pace in the fourth quarter of 2020, a bit more quickly than the previous estimate of 4.0%, according to the U.S. Department of Commerce. New government stimulus efforts and accelerated vaccine distribution could boost growth in the first quarter of 2021 to 5% or even higher, economists say. For all of 2021, economists anticipate gross domestic product could grow by 6%, which would be the fastest annual GDP growth since the economy expanded 7.2% in 1984. The optimism stems from a significant drop in new coronavirus infections, and recent spiking sales in the retail sector.

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