The Axios portal noted that experts predicted an increase in GDP by 8.4% year on year.
US GDP in the second quarter of 2021 increased by 6.5% year-on-years. This follows from the preliminary data of the US Department of Commerce distributed on Thursday.
“The GDP growth in the second quarter reflects the ongoing economic recovery, the opening of enterprises [after the pandemic], and the ongoing response measures taken by the authorities in connection with the COVID-19 pandemic,” the US department emphasizes. In the first quarter of 2021, the growth was 6.4% year-on-year.
As the Axios portal notes, the growth turned out to be worse than experts predicted. They expected GDP to increase by 8.4% year on year. Nevertheless, the US economy has officially returned to the observed indicators before the pandemic outbreak.
An outbreak of the disease caused by coronavirus infection was recorded at the end of 2019 in Central China and has spread to most countries. On March 11 last year, the World Health Organization recognized it as a pandemic. All countries and territories were forced to take various emergency measures of a sanitary and epidemiological nature, which led to a deep economic crisis.