Economy Slipped 1.6% to Start Year
WASHINGTON — The U.S. economy shrank at a 1.6% annual pace in the first three months of the year, the government reported June 29 in a slight downgrade from its previous estimate for the January-March quarter.
Economy Posts Surprise Contraction, Belying Solid Consumer Picture
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.
US Slightly Revises Up its GDP Estimate for Q4 to 7%
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.
Economic Growth Quickens in Q4 With Inventory Boost
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.
US Posts Weakest GDP Growth of Pandemic Recovery
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.
Government Revises Q4 GDP Up Slightly to 4.3%
WASHINGTON — The U.S. economy grew at an annual rate of 4.3% in the final three months of 2020, slightly faster than previously estimated.
Economy Grows 4%; Transportation Services See Small Drop
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.
US Economy Expands at Record 33.1% Pace After COVID Plunge
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.
Q2 GDP Drops a Record 32.9%, but Trucking Holding Steady
The gross domestic product of the United States shrank a record-setting 32.9% in the second quarter, tracking closely with economists’ expectations.
US Economy Shrank at Record-Breaking 33% Rate Last Quarter
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.