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Gross Domestic Product, Fourth Quarter and Year 2020 (Advance Estimate)
Real gross domestic product (GDP) increased at an annual rate of 4.0 percent in the fourth quarter of 2020 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 33.4 percent. The GDP estimate released today is based on source data that are incomplete or subject to further revision by the source agency (see "Source Data for the Advance Estimate" on page 4). The "second" estimate for the fourth quarter, based on more complete data, will be released on February 25, 2021. The increase in real GDP reflected increases in exports, ... (full story)
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Fourth quarter GDP increased 4.0% vs 4.3% estimate
After a year in which a pandemic and politics posed challenges unlike the U.S. has seen in generations, the economy closed in fairly good shape. Gross domestic product increased at a 4.0% pace in the fourth quarter, slightly below the 4.3% expectation from economists surveyed by Dow Jones. Activity seemed to slow as the year came to a close, as economists see challenges for the early part of 2021. A slower than anticipated rollout in the Covid-19 vaccines coupled with a continued rise in cases and restrictions on activity across the country likely will mean little growth in the fourth quarter. However, activity is ... (full story)
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