Commerce Dept: Economy Grew 6.4% In First Quarter

April 29, 2021 Biden Administration, Economy

The Wall Street Journal reports:

The U.S. economy expanded rapidly in the first quarter, growing at a 6.4% annual rate and extending what economists project will be a robust, consumer-led recovery from the pandemic this year.

The jump in U.S. gross domestic product in the first three months of the year, reported by the Commerce Department on Thursday, put the size of the economy slightly ahead of where it stood a year earlier, just as the pandemic reached the U.S.

The gain was fueled by a flood of federal cash to households and rising vaccinations. Consumer spending soared, with households shelling out the most for big-ticket items such as cars and furniture.

Read the full article. Photo: Commerce Sec. Gina Raimondo.



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