100 days ago • Posted by Martin Boujol
US GDP fell 3.5% in 2020: the highest drop since 1946
The real GDP increased at an annual rate of 4% in the fourth quarter, down from 33.4% in the third quarter. For the full year, it saw an overall decline of 3.5%, a down movement never seen since 1946. The main cause was the decrease of personal expenditures - such as services - and exports.
Source: Statista, US Bureau of Economic Analysis