The review confirms a high level of 6.4% of US GDP in the first quarter. Economy

The review confirms a high level of 6.4% of US GDP in the first quarter.  Economy

According to annual data, the United States economy grew by 6.4% in the first quarter of 2021. The increase was confirmed in a review of data released on Thursday (27) by the official Statistics Office (BEA) of the country’s Department of Commerce. The data will still have to undergo a second modification.

This increase was higher than the 4.3 percent recorded in the previous quarter.

The Commerce Department said in a note, “GDP growth in the first quarter reflects continued economic recovery, reopening of establishments and the government’s continued response to the Kovid-19 epidemic.”

GDP USA 1 Tri 21 – Photo: Economy G1

The increase in GDP reflects an improvement in personal consumption spending, non-residential fixed investment, government spending, residential real investment and state and local government spending, which were partially offset by a decline in private investment and exports. Imports, which have a negative impact on GDP, have increased.

The United States uses a method different from that used by most countries for disclosure of quarterly GDP. In Brazil, for example, IBGE reports quarterly growth in relation to the immediate previous quarter and in relation to the same period in the previous year. On the other hand, annual rate means the variation in GDP if this percentage of increase or decrease is maintained for the entire year.

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About the author: Sarah Gracie

Sarahis a reporter covering Amazon. She previously covered tech and transportation, and she broke stories on Uber's finances, self-driving car program, and cultural crisis. Before that, she covered cybersecurity in finance. Sarah's work has appeared in The Wall Street Journal, Bloomberg, Politico, and the Houston Chronicle.

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