That was slightly more than what economists had predicted, and a faster rate than the 4.3% recorded at the end of 2020. In normal times, that 6.4% growth rate would represent electric growth. But during the pandemic, the situation has become quite different. After the disastrous contraction during the first wave of the pandemic last spring, America is still on the path to recovery.
The rampant growth of gross domestic product — the broadest measure of economic activity — is a good sign that the US economy is moving in the right direction, even though growth has slowed from the enormous 33.4% annualized jump in the second quarter of 2020 when the economy started to reopen.
The government uses the ‘annualized’ rate, which assumed the quarterly growth rate would continue for a full year, because it makes it easier to compare numbers of different periods of time.
This is a developing story. It will be updated.
source: cnn.com