The economy ended the year by growing at an unexpectedly brisk 6.9% annual pace from October through December as businesses replenished their inventories, the Commerce Department reported Thursday.
Many U.S. businesses, especially restaurants, bars, hotels and entertainment venues, remain under pressure from the omicron variant, which has kept millions of people hunkered down at home to avoid crowds. Consumer spending, the primary driver of the economy, may be further held back this year by the loss of government aid to households, which nurtured activity in 2020 and 2021 but has mainly expired.
“The upside surprise came largely from a surge in inventories, and the details aren’t as strong as the headline would suggest,” Kathy Bostjancic, Oxford Economics’ chief U.S. financial economist, said in a research note.
See short film 'Das Rad' more Specificly the final minutes..
Contrary to US media Biden is doing very well Economically he has stabilised US but unfortunately the people of US do not seem to realise this and fail to appreciate Biden A great pity
Wow
Sorry, reality says otherwise
Reagan's economic was artificially inflated, which any president can do by dropping taxes and regulations.
yeah, now reign in inflation before everything comes crashing down
That’s because 2020 was a nightmare for business owners, let things restart and of course you’re going to see “record” growth. Inflation impacting every part of our lives but no one seems to want to talk about that.
Isn't it paradoxical that this should be the case in spite of the covid challenges that nearly suffocated national economies worldwide?
It’s To the Credit of President Joe Biden
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Goods returned by US consumers surged 78% in 2021\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t Goods bought by US consumers surged too. A meaningful parameter is the percentage of the return, did it increase substantially or not? They are sending out defective, overpriced broken garbage but we're supposed to just suck it up? Une société de consommation 🇺🇸 déréglée et des consommateurs qui achètent en ligne comme des chiens de Pavlov sans réfléchir. Le XXI ième sera frugal où il sera un moment de décadence.
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Goods returned by US consumers surged 78% in 2021\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t Goods bought by US consumers surged too. A meaningful parameter is the percentage of the return, did it increase substantially or not? They are sending out defective, overpriced broken garbage but we're supposed to just suck it up? Une société de consommation 🇺🇸 déréglée et des consommateurs qui achètent en ligne comme des chiens de Pavlov sans réfléchir. Le XXI ième sera frugal où il sera un moment de décadence.
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Source: The Telegraph - 🏆 41. / 63 Read more »