BEA News: Gross Domestic Product, First Quarter 2021 (Advance Estimate)
The U.S. Bureau of Economic Analysis (BEA) has issued the following news release today:
Real gross domestic product (GDP) increased at an annual rate of 6.4 percent in the first quarter of 2021, reflecting the continued economic recovery, reopening of establishments, and continued government response related to the COVID-19 pandemic. In the first quarter, government assistance payments, such as direct economic impact payments, expanded unemployment benefits, and Paycheck Protection Program loans, were distributed to households and businesses through the Coronavirus Response and Relief Supplemental Appropriations Act and the American Rescue Plan Act. In the fourth quarter of 2020, real GDP increased 4.3 percent.
The full text of the release on BEA’s website can be found at: www.bea.gov/news/2021/gross-domestic-product-first-quarter-2021-advance-estimate
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