US Gross Domestic Product, Fourth Quarter and Year 2020

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(US Bureau of Economic Analysis)

Real gross domestic product (GDP) increased at an annual rate of 4.1 percent in the fourth quarter of 2020, reflecting both the continued economic recovery from the sharp declines earlier in the year and the ongoing impact of the COVID-19 pandemic, including new restrictions and closures that took effect in some areas of the United States.

The increase was 0.1 percentage point higher than the “advance” estimate released in January. In the third quarter, real GDP increased 33.4 percent. For more details, including source data, see the Technical Note and Federal Recovery Programs and BEA Statistics.

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