US economic system grows at 6.4% in March quarter


Washington, April 29

The US economy grew at a brisk 6.4% annual rate last quarter — a show of strength fuelled by government aid and declining viral cases that could drive further gains as the nation rebounds with unusual speed from the pandemic recession.

Thursday’s report from the Commerce Department estimated the nation’s GDP accelerated in the January-March quarter from a 4.3% annual gain in the final quarter of 2020.

Growth in the current April-June period is expected to be faster still, potentially reaching a 10% annual pace or more, led by an increase in people willing and able to travel, shop, dine out and otherwise resume their spending habits. — AP



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