| The US has recorded its strongest economic growth since 1984, fuelled by business reinvestment and consumption growth that pushed the total value of the American economy to a new high of $US22.99 trillion in 2021.
Gross domestic product expanded at a 6.9 per cent annualised rate in the December quarter, more than the 5.5 per cent economists had forecast after 2.3 per cent in the September quarter, the Commerce Department’s preliminary estimate showed on Thursday .Translated to terms Australians recognise, that equates to a quarter-on-quarter GDP increase of about 1.7 per cent, still very strong given the US economy was growing at annual rate of 2 to 3 per cent per year before COVID-19.
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