THE COMMERCE DEPARTMENT HAS IMPROVED ITS ESTIMATE OF US GDP GROWTH IN THE FOURTH QUARTER
According to the final estimate of the US Department of Commerce, the US economy in the last three months of last year grew by 4.3% compared to the same period a year earlier, which is better than the previous estimate of the Department of 4.1%. Economists ' forecasts indicated that the ministry's previous estimate would not change. At the same time, an increase in consumer spending of 2.3% is now reported, which is weaker than the previously indicated growth of 2.4%. The growth estimate for the PCE Core index was also lower, amounting to 1.3% against 1.4% in the previous report. In the fourth quarter, the decline in corporate profits was recorded at the level of 1.7% after their growth of 36.1% in the previous quarter. Last year, 2020, the US economy ended with the sharpest decline since 1946, shrinking by 3.5%. According to experts, in 2021, the growth of the US economy will be facilitated by government assistance, thanks to which GDP can grow by 6% in a year. They expect that in the first quarter, economic growth will be recorded at the level of 5% and even higher, which will have a positive impact on the exchange rate of the US dollar against other world currencies.