Business
US economy shrank by 3.5% in 2020, the worst year since second world war – The Guardian
Coronavirus pandemic brought country to a shuddering halt as economy rose by just 1% in last three months
The US economy shrank by 3.5% in 2020, the worst year for growth since 1946, as the coronavirus pandemic brought the country to a shuddering halt.
In the last three months of the year the economy rose by just 1% compared with the previous quarter, according to the Bureau of Economic Analysis equivalent to an annualized rate of 4%.
The latest figures represent a significant slowdown in the economy. In the previous quarter the economy rose by 7.5%, an annualized rate of 33.4%.
The reversal comes amid…
-
Noosa News11 hours agoJessica Alba spotted filming spy thriller on the Gold Coast as cameras roll under iconic bridge
-
Noosa News23 hours agoTallest tower outside CBD approved for construction at 205 metres
-
Noosa News24 hours agoFarmgate Backpackers leads with integrity amid industry challenges
-
General18 hours agoWall St futures bounce, Asia still shaky