The nation’s economic engine slowed considerably in recent months, as it faced off against a winter wave of coronavirus infections.
The Commerce Department reported Thursday that the nation’s gross domestic product grew just under 1% in October, November and December — a marked downshift from the three previous months. On an annualized basis, the economy grew 4 percent in the fourth quarter.
GDP was 2.5% smaller at the end of the year than when it began. Economic activity plunged last March and April when the pandemic took hold. The economy staged a partial comeback in the summer and early fall, only to falter in the last three months of the year.
Read this story now for free
To continue reading, sign up for our newsletter and get unlimited access to WABE.org
You can select your preferences for news and local content. We will never share your email address. Learn how your newsletter sign-up will support WABE and Public Media
