January 27, 2022
BIDENOMICS:
GDP grew at a 6.9% pace to close out 2021, stronger than expected despite omicron spread (Jeff Cox, 1/27/22, CNBC)
The U.S. economy grew at a much better-than-expected pace to end 2021 from sizeable boosts in inventories and consumer spending, and despite signs that the acceleration likely tailed off toward the end of the year.Gross domestic product, the sum of all goods and services produced during the October-through-December period, increased at a 6.9% annualized pace, the Commerce Department reported Thursday. Economists surveyed by Dow Jones had been looking for a gain of 5.5%.
Posted by Orrin Judd at January 27, 2022 11:50 AM