image credit: Vecteezy

Flush with COVID stimulus money and boosted by reopenings, the U.S. economy grew sharply in the spring but slower than projected

July 29, 2021


The U.S. economy grew sharply in the second quarter amid the reopening economy and increasing COVID-19 vaccinations but the surge was less robust than expected and likely represented a high-water mark in a historically strong year.

The nation’s gross domestic product, the value of all goods and services produced in the U.S., increased at a seasonally adjusted annual rate of 6.5% in the April-June period, the Commerce Department said Thursday. Economists surveyed by Bloomberg had forecast an 8.5% rise in GDP.

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