The US economy contracted 3.5% in 2020, its biggest decline since 1946
The United States economy suffered a contraction of 3.5% in 2020 from its worst year 1946 Start Due to the Kovid-19 crisis, it was published on Thursday according to an initial estimate by the Department of Commerce.
In the fourth quarter, the economy recorded a recovery with a 4% increase in annual projection, which was used as per annual indicators The us
These figures are lower than analysts expected, expecting a 4.4 percent increase.
The increase was 1 percent between October and December compared to the third quarter of the year.
The Commerce Department indicated that D. Fall of GDP In 2020, it reflected a contraction in personal spending, exports, non-residential private investment and a reduction in spending by local and state administrations.
These investment losses were partially offset by an increase in federal government funds.
Exports fell 13% last year and personal consumption fell 3.9 percent.
These preliminary data will be reviewed and a second estimate will be published on 25 February.
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