Baku 26° 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
23:53
Iran attacks Thai-flagged ship in Hormuz
Region23:38
US sending dozens of refueling aircraft to Israel ahead of potential attack on Iran
Other countries23:15
Iran's Chahbahar port surveillance tower destroyed: CENTCOM
Other countries22:53
Dan Jorgensen: EU aims to double electrification level by 2040
Other countries22:35
Brent crude price exceeds $88 per barrel
Energy22:15
Hoekstra: EU aims to turn emissions market into source of investment
Other countries21:56
8 dead, 34 missing after mountain collapse hits China's Chongqing
Other countries21:35
Photo
Court of Appeal concludes defendant statements in Armenian citizens' case
Domestic policy21:15