GDP contracted 3.5% in 2020, worst performance since 1946

Published January 28, 2021 4:16pm ET



Despite a pandemic continuing to ravage restaurants, movie theaters, and other entertainment-related industries, the economy closed 2020 on a relatively positive note, only slightly missing economists’ expectations.

U.S. gross domestic product grew at a 4% annualized rate in the fourth quarter, the Bureau of Economic Analysis reported Thursday.

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