US economy likely had its worst year since World War II ...News

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US economy likely had its worst year since World War II
source : Russia Today ( News ) () 10
The US economy is projected to have contracted by as much as 3.6 percent last year. That would be the worst performance since 1946, and the first annual decline in GDP since the Great Recession, economists say. The sharp contraction would follow a 2.2 percent growth in 2019. Economists surveyed by Reuters estimate the fourth quarter GDP to have expanded at a four percent annualized rate. They said that Covid-19 and the lack of another stimulus package diminished consumer spending, and partially overshadowed the robust manufacturing and housing markets. The US Federal Reserve on Wednesday left its benchmark overnight interest rate near

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