BEA News: Gross Domestic Product, Fourth Quarter and Year 2020 (Second 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 4.1 percent in the fourth quarter of 2020, reflecting both the continued economic recovery from the sharp declines earlier in the year and the ongoing impact of the COVID-19 pandemic, including new restrictions and closures that took effect in some areas of the United States. The increase was 0.1 percentage point higher than the “advance” estimate released in January. In the third quarter, real GDP increased 33.4 percent.

The full text of the release on BEA’s website can be found at: www.bea.gov/news/2021/gross-domestic-product-fourth-quarter-and-year-2020-second-estimate

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