US GDP rises 4% in Q4

Thursday, 28. January 2021 14:32

The United States gross domestic product (GDP) increased at an annualized rate of 4% in the fourth quarter of 2020, the Bureau of Economic Analysis (BEA) of the country's Department of Commerce said in its report on Thursday.

The increase comes after the sharpest quarterly growth ever recorded, as US GDP gained a whopping 33.4% in the previous trimester.

Compared to the previous three-month period, personal consumption rose by 2.5%, contributing to the GDP's upward trend, as well as the 4.06% rebound in private domestic investment.

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Breaking the News / BU