U.S. economy surpasses prepandemic size with 6.5% Q2 growth

August 5, 2021 ☼ pandemiceconomy

Source: POLITICO - Link

Fueled by vaccinations and government aid, the U.S. economy grew at a solid 6.5% annual rate last quarter in another sign that the nation has achieved a sustained recovery from the pandemic recession. The total size of the economy has now surpassed its pre-pandemic level.

Thursday’s report from the Commerce Department estimated that the nation’s gross domestic product — its total output of goods and services — accelerated in the April-June quarter from an already robust 6.3% annual growth rate in the first quarter of the year.

It’s a good report, but this rate is not sustainable and we should not expect it to continue.