US economic recovery accelerates in first quarter
Rising vaccinations, faster job growth and two rounds of federal stimulus payments combine to supercharge household spending
29 April 2021 - 17:20
US economic growth accelerated in the first quarter as a rush of consumer spending helped bring total output to the cusp of its pre-pandemic level.
GDP in the world's leading economy, expanded at a 6.4% annualised rate after a softer 4.3% pace in the fourth quarter, the commerce department’s preliminary estimate showed on Thursday. Personal consumption, the biggest part of the economy, surged an annualised 10.7%, the second-fastest since the 1960s...
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