Continuing to rebound from the shocks of the pandemic, the nation’s economy expanded by 1.7 percent in the final three months of 2021, the Commerce Department announced Thursday.
The figure, which was adjusted for inflation, reflects the growth in gross domestic product — the broadest measure of the goods and services produced. On an annualized basis, the increase for the quarter was 6.9 percent.
For the full year, the economic expansion was 5.7 percent, the biggest since 1984 — an impressive feat, though one that also reflects the depth of the damage inflicted by the coronavirus the year before.
As recently as last February, the Congressional Budget Office predicted that it might take until 2024 to reach the current unemployment rate of 3.9 percent, down from a peak of 14.7 percent in April 2020.
President Biden hailed the year’s economic growth and job gains as evidence that his policies were yielding substantial fruit.
https://www.nytimes.com/2022/01/27/business/us-gdp-4q-2021.h…
Jaak