2020 was the worst year for US growth since World War 2
The economy contracted 3.5% in 2020 while pace of nascent rebound slowed in fourth quarter
28 January 2021 - 16:34
Washington — The US economy contracted at its sharpest pace since World War 2 in 2020 as Covid-19 ravaged services businesses such as restaurants and airlines, throwing millions of Americans out of work.
The commerce department's snapshot of fourth-quarter GDP on Thursday also showed the recovery from the pandemic losing steam as the year wound down amid a resurgence in coronavirus infections and exhaustion of nearly $3-trillion in relief money from the government...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.