US economy grew at its fastest rate last year since 1984

5.7% growth

Elliot Gulliver-Needham
clock • 1 min read

US GDP grew at 5.7% last year, its fastest rate since 1984, despite two new virus variants emerging in 2021.

Growth was uneven with the economy growing at 6.9% from October to December, a steep acceleration from growth of just 2.3% in the previous quarter. The growth created 6.4m jobs in 2021, but also saw the highest inflation in 40 years. After shrinking in the first three quarters of 2021, inventories rose at a $173.5bn annual rate in the last quarter, which may alleviate the concerns of supply chains problems that have plagued 2021. Federal Reserve holds interest rates while signalling hike in March Housing fell 0.7% in the last quarter, its third consecutive drop, though it remain...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on US

Investor demand meets 'relentless supply' of record-breaking US Treasury bond sales
US

Investor demand meets 'relentless supply' of record-breaking US Treasury bond sales

Government attempts to plug debt vacuum

Eve Maddock-Jones
clock 08 February 2024 • 4 min read
Jerome Powell: Fed united in cutting rates this year
US

Jerome Powell: Fed united in cutting rates this year

Timing brings risks

Eve Maddock-Jones
clock 05 February 2024 • 2 min read
T. Rowe Price's Ritu Vohora: US small cap stocks offer strong fundamentals and cheap valuations
US

T. Rowe Price's Ritu Vohora: US small cap stocks offer strong fundamentals and cheap valuations

Soft landing prospects

Ritu Vohora
clock 01 February 2024 • 4 min read
Trustpilot