Premium
United States
Publication year - 2021
Publication title -
economic outlook
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.1
H-Index - 8
eISSN - 1468-0319
pISSN - 0140-489X
DOI - 10.1111/1468-0319.12572
Subject(s) - economics , investment (military) , real gross domestic product , private consumption , track (disk drive) , monetary economics , economy , macroeconomics , fiscal policy , politics , political science , law , computer science , operating system
Real GDP growth was unrevised at 6.4% annualised in the third and final Q1 GDP release, confirming the economy started the year on a strong footing. The remarkable 11.5% surge in real private domestic demand reflected robust consumer spending (+11.4%), business investment (+11.7%), and residential investment (+13.1%) – all revised upward. With most Q2 data released, we estimate the economy is now larger than it was at the end of 2019 and is on track to surpass its pre‐Covid trend.