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Last Q of Trumponomics, up 4% annualized
[Yahoo] The U.S. economy expanded in the final three months of 2020, albeit with slowing growth as the pandemic tore across the country at an alarming clip at the end of the year.The Commerce Department's first estimate on fourth-quarter gross domestic product (GDP) was released Thursday at 8:30 a.m. ET. Here were the main results in the report, compared to Bloomberg consensus data: 4Q GDP, annualized Q/Q: 4.0% vs. 4.2% expected, 33.4% in 3Q Economic activity was expected to slow significantly from the third quarter's 33.4% annualized increase, in large part due to a natural moderation after the record surge. The soaring third-quarter growth had followed a record drop of 31.4% in the second quarter, which reflected the impact of early pandemic lockdowns in spring 2020. Overall, GDP remained below pre-pandemic levels from the fourth quarter of 2019. What do we think Q1 of 2021 will be? My estimate, Over/under +1.5% Posted by: Lord Garth 2021-01-29 |
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