WORLD US economy contracts 3.5 pct in 2020 amid COVID-19 fallout

WORLD

US economy contracts 3.5 pct in 2020 amid COVID-19 fallout

Xinhua

18:58, January 29, 2021

Photo taken on Jan. 28, 2021 shows a closed AMC theater in New York, the United States. The U.S. economy contracted 3.5 percent in 2020 amid COVID-19 fallout, the largest annual decline of U.S. gross domestic product (GDP) since 1946, according to data released by the U.S. Commerce Department on Thursday. The data also showed that the U.S. economy grew at an annual rate of 4 percent in the fourth quarter of 2020 amid a surge in COVID-19 cases, slower than 33.4 percent in the previous quarter. (Photo by Michael Nagle/Xinhua)

A person enters the Westfield World Trade Center in New York, the United States, Jan. 28, 2021. The U.S. economy contracted 3.5 percent in 2020 amid COVID-19 fallout, the largest annual decline of U.S. gross domestic product (GDP) since 1946, according to data released by the U.S. Commerce Department on Thursday. The data also showed that the U.S. economy grew at an annual rate of 4 percent in the fourth quarter of 2020 amid a surge in COVID-19 cases, slower than 33.4 percent in the previous quarter. (Photo by Michael Nagle/Xinhua)

Photo taken on Jan. 28, 2021 shows an interior view of the Westfield World Trade Center in New York, the United States. The U.S. economy contracted 3.5 percent in 2020 amid COVID-19 fallout, the largest annual decline of U.S. gross domestic product (GDP) since 1946, according to data released by the U.S. Commerce Department on Thursday. The data also showed that the U.S. economy grew at an annual rate of 4 percent in the fourth quarter of 2020 amid a surge in COVID-19 cases, slower than 33.4 percent in the previous quarter. (Photo by Michael Nagle/Xinhua)

Apple store employees assist customers at the Westfield World Trade Center shopping mall in New York, the United States, Jan. 28, 2021. The U.S. economy contracted 3.5 percent in 2020 amid COVID-19 fallout, the largest annual decline of U.S. gross domestic product (GDP) since 1946, according to data released by the U.S. Commerce Department on Thursday. The data also showed that the U.S. economy grew at an annual rate of 4 percent in the fourth quarter of 2020 amid a surge in COVID-19 cases, slower than 33.4 percent in the previous quarter. (Photo by Michael Nagle/Xinhua)

A pedestrian descends the stairs at Westfield World Trade Center in New York, the United States, Jan. 28, 2021. The U.S. economy contracted 3.5 percent in 2020 amid COVID-19 fallout, the largest annual decline of U.S. gross domestic product (GDP) since 1946, according to data released by the U.S. Commerce Department on Thursday. The data also showed that the U.S. economy grew at an annual rate of 4 percent in the fourth quarter of 2020 amid a surge in COVID-19 cases, slower than 33.4 percent in the previous quarter. (Photo by Michael Nagle/Xinhua)

People walk through the Oculus, home to the Westfield World Trade Center shopping mall in New York, the United States, Jan. 28, 2021. The U.S. economy contracted 3.5 percent in 2020 amid COVID-19 fallout, the largest annual decline of U.S. gross domestic product (GDP) since 1946, according to data released by the U.S. Commerce Department on Thursday. The data also showed that the U.S. economy grew at an annual rate of 4 percent in the fourth quarter of 2020 amid a surge in COVID-19 cases, slower than 33.4 percent in the previous quarter. (Photo by Michael Nagle/Xinhua)

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue