U.S. economy grew 5.7 percent in 2021, fastest since 1984, despite ongoing pandemic

January 27, 2022 ☼ economygrowth2021

Source: The Washington Post (Link)

Source: The Washington Post

The U.S. economy grew by 5.7 percent in 2021, the fastest full-year clip since 1984, roaring back in the pandemic’s second year despite two new virus variants that rocked the country.

The growth came in fits and starts, with a burst of government spending helping propel a fast start, even as a surge in new cases and deaths in the second half of the year created new pressures. The economy grew at a 6.9 percent annual rate from October to December, the Bureau of Economic Analysis said Thursday, a sharp acceleration from 2.3 percent in the previous quarter.