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US economy increased in first quarter of 2021

US economy increased in first quarter of 2021

Washington, Jun 25 (Prensa Latina) The US economy picked up the pace in the first quarter of 2021 and increased 1.6% thanks to massive fiscal stimulus, the US Department of Commerce (DOC) reported.

The DOC added that ‘Real Gross Domestic Product (GDP) increased at an annual rate of 6.4% in the first quarter of 2021, reflecting the always-on economic recovery, reopening of facilities and the ceaseless government response regarding the Covid-19 pandemic.’

In its final report on the GDP growth from January to March, DOC forecast that the current quarter of the year will increase around 10%.

Experts expect that with the vaccination campaign progress and more than 50% of US people fully vaccinated, there will be a noteworthy economic rebound in the second half of 2021.

In 2020, US economy dropped 3.5% hit by the Covid-19 pandemic, after growing 2.2% in previous year.

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