—notching the fastest growth rate in nearly 40 years after the unprecedented pandemic drawback in 2020, the government said Thursday.... [+]Real gross domestic product beat expectations averaging 5.5% due primarily to increases in exports, personal consumption and nonresidential investments, according to anFor the year, economic growth accelerated at a rate of 5.7%—the highest showing since 1984 after a 3.4% decline in 2020, the government said.
Inventory investments by motor vehicle dealers and widespread increases in exports—such as industrial supplies, food and beverages—were among factors leading economic growth despite offsets from minor decreases in both federal and state and local government spending.annual performance since World War II last year.
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