Baku 15° C
US economy shrinks 3.5%
Finance
- 29 January, 2021
- 08:28
The cost of gross domestic product (GDP) in the United States decreased by 3.5% amid the coronavirus pandemic in 2020, compared to 2019, Report mentions, citing the US Department of Commerce.
According to the document, the last time the country's economy showed such a rate of decline was 75 years ago.
In 2020, the US economy shrank by 5% in the first quarter, 31.4% in the second quarter, and gained 33.4% and 4% in the third and fourth quarters, respectively.
Author
Latest News
17:49
ADB: Unified settlement center being created in Azerbaijan's securities market
Finance17:43
Hungary, EU to discuss terms of release for billions in blocked funds
Other countries17:35
Germany's Merz says Iran humiliating US as talks stall
Other countries17:23
CBA, EBRD mull macroeconomic environment in Azerbaijan
Finance17:01
Photo
Baku hosts media briefing ahead of WUF13
Media16:50
Mazahir Panahov re-elected as CEC chairman
Domestic policy16:48
Opening ceremony held for 'Shusha – ECO Tourism Capital 2026' event
Tourism16:44
Škoda to bid for Baku Metro train supply tender
Other countries16:35