US economy accelerated at 6.4%

Growth has been fueled by government aid and declining viral cases as the nation quickly rebounds from the pandemic recession.

By

National News

April 29, 2021 - 9:41 AM

WASHINGTON (AP) — Powered by consumers, the U.S. economy grew at a brisk 6.4% annual rate last quarter — a show of strength fueled by government aid and declining viral cases that could drive further gains as the nation rebounds with unusual speed from the pandemic recession.

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 January-March quarter from a 4.3% annual gain in the final quarter of 2020.

Growth in the current April-June period is expected to be faster still, potentially reaching a 10% annual pace or more, led by an increase in people willing and able to travel, shop, dine out and otherwise resume their spending habits.

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