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.

June 25, 2021
06:57

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.

pgh/Pll/msm / lpn