US economy grew by 6.4% on a yearly basis in the first quarter.
The United States’ Real Gross Domestic Product (GDP) expanded at an annual rate of 6.4% in the first quarter of 2021, the US Bureau of Economic Analysis second estimate showed on Thursday. This reading matched the initial estimate and came in below the market expectation of 6.5%. “Upward revisions to consumer spending and nonresidential fixed investment were offset by downward revisions to exports and private inventory investment,” the publication read. “Imports, which are a subtraction in the calculation of GDP, were revised up.” Nick Note: HOT HOT HOT!