Personal income increased 0.6 percent (monthly rate) while consumer spending decreased 0.2 percent in December as many provisions of the CARES Act continued to wind down before the Coronavirus Response and Relief Supplemental Appropriations (CRRSA) Act was enacted on December 27, 2020. Additionally, new restrictions and closures took effect in some...
Gross Domestic Product, 4th Quarter and Year 2020 (Advance Estimate)
Real gross domestic product (GDP) increased at an annual rate of 4.0 percent in the fourth quarter of 2020, reflecting both the continued economic recovery from the sharp declines earlier in the year and the ongoing impact of the COVID-19 pandemic, including new restrictions and closures that took effect in some areas of the United States. In the third...
