The U.S. economy shrank for the first time since 2020, reflecting an import surge tied to robust consumer demand. While the surprise contraction adds to political headaches for President Joe Biden, it’s unlikely to dissuade the Federal Reserve from hiking interest rates aggressively to combat inflation.
April 28, 2022GDP
Government, Business 
Motorists fill up vehicles as a winter storm approaches. (David Zalubowski/Associated Press)
US Slightly Revises Up its GDP Estimate for Q4 to 7%
Motorists fill up vehicles as a winter storm approaches. (David Zalubowski/Associated Press)The U.S. economy ended 2021 by expanding at a brisk 7% annual pace from October through December, the government reported Feb. 24 in a slight upgrade from its earlier estimate as businesses stepped up their restocking of supplies.
February 24, 2022 Government, Business 
A worker uses a forklift to move packages at a robotics facility in Baltimore. (Andrew Harrer/Bloomberg)
Economic Growth Quickens in Q4 With Inventory Boost
A worker uses a forklift to move packages at a robotics facility in Baltimore. (Andrew Harrer/Bloomberg)U.S. economic growth accelerated by more than forecast in the fourth quarter, fueled by the rebuilding of inventories and capping the strongest year since the 1980s.
January 27, 2022 Government, Business 
A worker uses a forklift to move packages at a facility in Baltimore. (Andrew Harrer/Bloomberg)
US Posts Weakest GDP Growth of Pandemic Recovery
A worker uses a forklift to move packages at a facility in Baltimore. (Andrew Harrer/Bloomberg)U.S. economic growth slowed more than expected in the third quarter to the softest pace of the pandemic recovery period as snarled supply chains and a surge in COVID-19 cases throttled spending and investment.
October 28, 2021 Government, Business 
Steven Senne/AP
Government Revises Q4 GDP Up Slightly to 4.3%
Steven Senne/APWASHINGTON — The U.S. economy grew at an annual rate of 4.3% in the final three months of 2020, slightly faster than previously estimated.
March 25, 2021 Government, Business 
An employee walks by crucibles filled with molten magnesium and aluminum at a foundry in Ohio. (Ty Wright/Bloomberg News)
Economy Grows 4%; Transportation Services See Small Drop
An employee walks by crucibles filled with molten magnesium and aluminum at a foundry in Ohio. (Ty Wright/Bloomberg News)The U.S. economy downshifted in the final three months of 2020 after record third-quarter growth, as the pandemic battered the labor market and limited Americans’ ability and willingness to spend.
January 28, 2021 Government, Business 
A worker uses a forklift to move packages at a facility in Baltimore. (Andrew Harrer/Bloomberg News)
US Economy Expands at Record 33.1% Pace After COVID Plunge
A worker uses a forklift to move packages at a facility in Baltimore. (Andrew Harrer/Bloomberg News)The U.S. economy bounced back with a record yet temporary surge of growth in the third quarter as businesses reopened and stimulus cash powered consumer spending — reversing much of the collapse stemming from coronavirus lockdowns.
October 29, 2020 Government, Business 
American Trucking Associations Chief Economist Bob Costello said trucking is holding its own during these tough times. (Doug Berry/Getty Images)
Q2 GDP Drops a Record 32.9%, but Trucking Holding Steady
American Trucking Associations Chief Economist Bob Costello said trucking is holding its own during these tough times. (Doug Berry/Getty Images)The gross domestic product of the United States shrank a record-setting 32.9% in the second quarter, tracking closely with economists’ expectations.
July 30, 2020 Government, Business 
A "For Rent" sign hangs on a closed shop in Miami Beach, Fla., on July 13. (Lynne Sladky/Associated Press)
US Economy Shrank at Record-Breaking 33% Rate Last Quarter
A "For Rent" sign hangs on a closed shop in Miami Beach, Fla., on July 13. (Lynne Sladky/Associated Press)The U.S. economy shrank at a dizzying 32.9% annual rate in the April-June quarter — by far the worst quarterly plunge ever — when the viral outbreak shut down businesses, throwing tens of millions out of work and sending unemployment surging to 14.7%, the government said July 30.
July 30, 2020 Government, Business 
Wendell and Carolyn (Getty Images)
US Economy Sliding Further, Experts Say
Wendell and Carolyn (Getty Images)The U.S. economy is likely in the midst of its deepest recession since the end of World War II, when modern records that tracked the nation’s gross domestic product and unemployment rates were standardized.
May 4, 2020