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…
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