Economy grew 5.7% in 2021, fastest pace since 1984

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The economy grew at a 5.7% annual rate in 2021, the fastest clip since 1984, as the country bounced back from the worst of the pandemic, the Bureau of Economic Analysis reported Thursday.

The numbers, adjusted for inflation, were partly driven by a surprisingly strong fourth quarter. GDP grew at a robust 6.9% annualized rate to end the year, which was much stronger than the 2.3% in the preceding quarter and considerably better than forecasters had expected.

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