Quarterly Report: Tariffs and International Trade Agreements, 4th Quarter 2020

As the pandemic ridden year comes to an end in 2020, the U.S. economy closes its balances in a fairly decent shape. The U.S. GDP rose by 4% at an annual rate in Q4 2020 compared to 33% in Q3, according to the Bureau of Economic Analysis. 

The rise in GDP was lower than Wall Street’s expectations of a 4.3% increase in Q4. The growth missed its mark due to a rise in imports along with slipping exports. Personal Consumption Expenditure (PCE) and disposable income also took a hit due to the halting economy.

Real GDP for the year 2020 decreased 3.5% compared to 2019 due to the pandemic induced lockdown. Q42020 GDP decreased 2.5% YoY to $309 billion, the BEA stated. A 3.5% annual decline in the GDP is the worst year for the U.S. since at least the end of World War II.

The decrease...

Login In

or

Register now for free access

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments