Global EditionASIA 中文雙語Fran?ais
    World
    Home / World / Americas

    US economy grows at annualized 6.4% in Q1 amid vaccine rollout, fiscal support

    Xinhua | Updated: 2021-04-30 09:41
    Share
    Share - WeChat
    Photo taken on April 29, 2021 shows the US Commerce Department in Washington, DC. The US economy grew at an annual rate of 6.4 percent in the first quarter of 2021, the US Commerce Department reported Thursday. [Photo/Xinhua]

    WASHINGTON -- The US economy grew at an annual rate of 6.4 percent in the first quarter of 2021, the US Commerce Department reported Thursday.

    "The increase in first quarter GDP (gross domestic product) reflected the continued economic recovery, reopening of establishments, and continued government response related to the COVID-19 pandemic," the department's Bureau of Economic Analysis said in the "advance" estimate.

    The increase in real GDP in the first quarter reflected increases in personal consumption expenditures, non-residential fixed investment, federal government spending, residential fixed investment, and state and local government spending that were partly offset by decreases in private inventory investment and exports, the report showed. Imports, which are a subtraction in the calculation of GDP, increased.

    "Easy monetary policy, federal government spending to ramp up vaccinations and a surge in incomes enabled by emergency aid and two rounds of stimulus checks pushed consumer spending up at a double-digit pace," Diane Swonk, chief economist at Grant Thornton, a major accounting firm, wrote in an analysis.

    Business investment, meanwhile, continued to post "solid" gains but "at a slower pace" as firms scrambled to adopt existing technologies and upgrade their equipment, Swonk noted.

    The largest, single drag on growth was inventories, which plummeted in response to the surge in consumer spending, she continued, adding that alone shaved 2.7 percent from overall GDP growth.

    "The biggest hurdles during the first quarter were regional outbreaks and the lingering surge in infections that accompanies them," Swonk said. "The ability of the economy to fully heal is still contingent upon our ability to contain the spread of the virus now with vaccinations."

    The 6.4-percent quarterly growth came after the economy saw a 3.5-percent contraction amid the COVID-19 pandemic in 2020.

    According to the International Monetary Fund (IMF)'s latest estimation, the US economy is expected to grow by 6.4 percent this year, 1.3 percentage points up from the January estimation.

    US President Joe Biden on Wednesday night officially introduced the American Families Plan, a 1.8-trillion-US-dollar spending proposal focused on childcare and education, just a few weeks after proposing a 2-trillion-dollar infrastructure plan, noting that with a corporate tax hike and increased tax for the wealthiest, all investments he proposed would be fully paid for over the next 15 years.

    1 2 Next   >>|
    Most Viewed in 24 Hours
    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    国产啪亚洲国产精品无码 | 最近2019免费中文字幕视频三| 亚洲AV无码成人精品区蜜桃| 一本一道AV无码中文字幕| 国产成人无码精品一区二区三区| 最近免费中文字幕中文高清| 亚洲中文字幕久久精品无码APP| 国精无码欧精品亚洲一区| 日韩精品无码人成视频手机| 天堂а√在线中文在线最新版| 67194成l人在线观看线路无码| 无码人妻精品中文字幕免费| 亚洲国产中文v高清在线观看| 7777久久亚洲中文字幕| 亚洲中文字幕AV在天堂| 久久无码人妻精品一区二区三区| 亚洲2022国产成人精品无码区| 日韩a级无码免费视频| 天堂а√在线地址中文在线| 国产乱码精品一区二区三区中文 | 久99久无码精品视频免费播放| 无码人妻熟妇AV又粗又大 | 最近2018中文字幕免费视频| 久久无码精品一区二区三区| 本道天堂成在人线av无码免费| 午夜人性色福利无码视频在线观看 | 无码夫の前で人妻を侵犯| xx中文字幕乱偷avxx| 日本久久久精品中文字幕| 久久久噜噜噜久久中文福利| 亚洲VA中文字幕不卡无码| 精品久久久久久无码中文字幕一区| 无码专区国产无套粉嫩白浆内射| 国产成人无码av片在线观看不卡| 国产精品亚韩精品无码a在线| 人妻精品久久无码区| 国产亚洲精品无码成人| 国产久热精品无码激情| 国产AV无码专区亚洲精品| AV无码久久久久不卡蜜桃| 亚洲AV无码乱码在线观看牲色|