US economy grows 4% in Q4; overall GDP at $21.5 trillion

[F-22Raptor]

Real gross domestic product (GDP) increased at an annual rate of 4.0 percent in the fourth quarter of 2020 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 33.4 percent.

Current‑dollar GDP increased 6.0 percent at an annual rate, or $309.2 billion, in the fourth quarter to a level of $21.48 trillion. In the third quarter, GDP increased 38.3 percent, or $1.65 trillion (tables 1 and 3).

https://www.bea.gov/news/2021/gross-domestic-product-4th-quarter-and-year-2020-advance-estimate

 

[vi-va]

in the cost of 400,000 mother, father, grandfather, grandmother, and still counting.
Understandable, those are expendable

'My mother is not expendable': As Trump itches to get U.S. back to work, experts warn of deaths, economic calamity

Returning quickly to normal has begun to gain traction among some on the right — and with the president himself.

www.nbcnews.com

 

[Yongpeng Sun-Tastaufen]

Still very low.

 

[Beast]

in the cost of 400,000 mother, father, grandfather, grandmother, and still counting.
Understandable, those are expendable

'My mother is not expendable': As Trump itches to get U.S. back to work, experts warn of deaths, economic calamity

Returning quickly to normal has begun to gain traction among some on the right — and with the president himself.

www.nbcnews.com

To American elite, the lesser burden of sustaining those old people. They are actually happier.

 

[EpiiC]

Still very low.

$21.5T GDP is huge!! I marvel at how resilient the US economy is.

 

[Indos]

Look like confusing data since Washington Post said overall 2020 GDP is declining at minus 3.5 %

https://twitter.com/x/status/1354784909009805314

https://twitter.com/x/status/1354812653458190339

 

[F-22Raptor]

Look like confusing data since Washington Post said overall 2020 GDP is declining at minus 3.5 %

https://twitter.com/x/status/1354784909009805314

https://twitter.com/x/status/1354812653458190339

For the full year the economy shrank, but it’s recovered almost all of its losses. The US economy is at $21.5T after Q4. I expect the US economy will grow very well this year, especially if it passes another $2T in stimulus.

 

[vi-va]

For the full year the economy shrank, but it’s recovered almost all of its losses. The US economy is at $21.5T after Q4. I expect the US economy will grow very well this year, especially if it passes another $2T in stimulus.

debt debt debt

 

[Yongpeng Sun-Tastaufen]

Why don't they do a 1 trillion USD stimulus and grow the economy by 1 trillion USD?

 

[Ray02589]

For the full year the economy shrank, but it’s recovered almost all of its losses. The US economy is at $21.5T after Q4. I expect the US economy will grow very well this year, especially if it passes another $2T in stimulus.

It looks like Q4 annualized GDP is 21.5 trillion, but actual full-year 2020 GDP is 20.93. So actual GDP is still 600 billion below full-year 2019.

China's full-year GDP is 15.6 trillion or 75% of US GDP. This is notable because the last two economic competitors of the US, the Soviet Union and Japan, failed to reach this level. The Soviets peaked in 1971 and Japan in 1989, both at around 71% of US, before declining. China has passed this threshold.

 

[Yongpeng Sun-Tastaufen]

It looks like Q4 annualized GDP is 21.5 trillion, but actual full-year 2020 GDP is 20.93. So actual GDP is still 600 billion below full-year 2019.

China's full-year GDP is 15.6 trillion or 75% of US GDP. This is notable because the last two economic competitors of the US, the Soviet Union and Japan, failed to reach this level. The Soviets peaked in 1971 and Japan in 1989, both at around 71% of US, before declining. China has passed this threshold.

USSR and Japan had much less population than US. China has 4 times the population of US. It's not even close comparison.

 

[Ray02589]

USSR and Japan had much less population than US. China has 4 times the population of US. It's not even close comparison.

Look where India is despite 4 times US population.