Baku 29° 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
17:56
France summons US ambassador over comments on slain far-right activist
Other countries17:35
India, US postpone trade deal meet amid Trump's tariff setback
Other countries17:20
NYT: Khamenei instructed Larijani to safeguard Iran against leadership assassinations
Region16:57
Ukraine–Azerbaijan ties see notable progress, envoy says
Foreign policy16:36
Hungary not to halt electricity supply to Ukraine
Other countries16:18
Iranian president vows resilience amid nuke talks, US pressure
Region16:01
Greenland does not need US hospital boat, says Denmark
Other countries15:47
Ukraine detains suspect over deadly Lviv terror attack
Other countries15:21