Tuesday, May 24, 2022
  • Hyderabad
  • Telangana
  • Andhra Pradesh
  • India
  • World
  • Entertainment
  • Science and Tech
  • Sport
  • Business
  • ...
    • NRI
    • View Point
    • cartoon
    • Columns
    • Reviews
    • Education Today
    • Property
    • Videos
    • Lifestyle
E-Paper
  • NRI
  • View Point
  • cartoon
  • Columns
  • Reviews
  • Education Today
  • Property
  • Videos
  • Lifestyle
Home | Business | Us Economic Growth In Q4 Revised Up To 4 3

US economic growth in Q4 revised up to 4.3%

By IANS
Published: Published Date - 04:22 PM, Fri - 26 March 21
Photo: IANS The US economy contracted 3.5 per cent in 2020 amid the Covid-19 pandemic, the largest annual decline of gross domestic product (GDP) since 1946, according to the department.

Washington: The US economy grew at an annual rate of 4.3 per cent in the fourth quarter of 2020 in the third and final estimate, up from 4.1 per cent in the previous estimate, the US Commerce Department reported on Thursday.

The upward revision primarily reflected an upward revision to private inventory investment that was partly offset by a downward revision to non-residential fixed investment, the report showed, Xinhua news agency reported.

“Whether measured by Gross Domestic Product or by Gross Domestic Income, the economy has not yet completely crawled out of the pandemic-induced hole into which it tumbled a year ago,” Jay Bryson and Shannon Seery, economists at Wells Fargo Securities, wrote in an analysis on Thursday.

“But, we expect the level of real GDP will surpass its pre-pandemic peak in the second quarter of this year,” they said.

The US economy contracted 3.5 per cent in 2020 amid the Covid-19 pandemic, the largest annual decline of gross domestic product (GDP) since 1946, according to the department. It also marked the first negative annual growth in US GDP since 2009.

In 2019, real GDP increased by 2.2 per cent.Amid Covid-19 shutdowns, the US economy shrank at an annual rate of 5 per cent in the first quarter of 2020, ending a decade-long economic expansion after the 2008 global financial crisis.

Then the economy went into free fall, dropping at a revised annual rate of 31.4 per cent in the second quarter amid mounting Covid-19 fallout.

As businesses gradually reopened, the economy saw a robust rebound in the third quarter of 2020, expanding at a revised annual rate of 33.4 per cent.

In the fourth quarter, US economic recovery slowed amid a surge in Covid-19 cases and lengthy delay in fiscal support.

The increase in real GDP in the fourth quarter reflected increases in exports, non-residential fixed investment, personal consumption expenditures, residential fixed investment, and private inventory investment, that were partly offset by decreases in state and local government spending as well as federal government spending, the official report showed. Imports, which are a subtraction in the calculation of GDP, increased.

  • Follow Us :
  • Tags
  • Gross Domestic Product
  • non-residential fixed investment
  • Shannon Seery
  • US Economy

Related News

  • FTCCI, Amazon to train MSMEs to adopt e-commerce

  • Why Indian MSMEs need to move to Cloud faster

  • PM Modi’s rule resulted in lowest GDP, highest unemployment: Puvvada

  • Telangana GSDP up 4.97pc

  • India loses 5-7% of GDP due to corrosion: International Zinc Association       

  • India to breach fiscal deficit target in FY22: Fitch Solutions

Latest News

  • Nutreat offers healthy, nutritious food using traditional techniques

    2 mins ago
  • Q&A session on steps to achieve success amid competition in TT, NT’s awareness programme

    17 mins ago
  • Telangana’s Lavanya makes it to Indian team for U-20 Asian Volleyball Championship

    31 mins ago
  • Think positive, improve skills experts tell aspirants in TT, NT’s awareness programme

    32 mins ago
  • TT, NT’s awareness programme in Hanamkonda gets good response

    41 mins ago
  • Telangana buys 30 lakh tonne paddy so far

    1 hour ago
  • Hyderabad: Swimming pool in Ameerpet reopens after two years

    1 hour ago
  • Sadhguru hails Telangana’s efforts to improve farm sector

    1 hour ago

company

  • Home
  • About Us
  • Contact Us

business

  • Subscribe

telangana today

  • Telangana
  • Hyderabad
  • Latest News
  • Entertainment
  • World
  • Andhra Pradesh
  • Science & Tech
  • Sport

follow us

© Copyrights 2022 TELANGANA PUBLICATIONS PVT. LTD. All rights reserved. Powered by Veegam