InvestorQ : Is it true that the US has seen a sharp spike in GDP growth in the Mar-21 quarter?
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Is it true that the US has seen a sharp spike in GDP growth in the Mar-21 quarter?

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4 months ago
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On Wednesday, the FOMC statement by Jerome Powell did flat the growth and inflation risk for the monetary policy. Exactly a day later, the US GDP growth for the Mar-21 quarter came in at 6.4%. This first quarter growth is one of the best quarterly growths that the US saw in the last 18 years. Massive government aid to households and businesses did the trick.

This robust Mar-21 growth comes on top of a 4.3% growth in the Dec-20 sequential quarter. Even Reuters consensus estimates had pegged Mar-21 growth of the US economy at 6.1% in a best-case scenario, so it is surely better than that. The GDP growth was triggered by consumer spending increasing sharply by 10.7% in the first quarter of 2021 in the US.

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