Baku 25° C
US economy shrinks 3.5%
Finance
- 29 January, 2021
- 08:28
The cost of gross domestic product (GDP) in the United States decreased by 3.5% amid the coronavirus pandemic in 2020, compared to 2019, Report mentions, citing the US Department of Commerce.
According to the document, the last time the country's economy showed such a rate of decline was 75 years ago.
In 2020, the US economy shrank by 5% in the first quarter, 31.4% in the second quarter, and gained 33.4% and 4% in the third and fourth quarters, respectively.
Author
Latest News
20:28
Video
Muradov: Azerbaijani engineers living in Europe can make significant contribution to the country
Diaspora20:23
Baku updates information on sailors affected in Azov Sea attack
Foreign policy20:18
Rafael Schvartzman: High European airport charges are hurting airlines
Infrastructure20:13
2026 Chovgan World Championship in Baku: match schedule approved
Team sports20:10
Stefano Titotto: Smart cities need smart materials
Business18:02
German professor names key platform for developing cooperation with Azerbaijani engineers
Business17:51
IATA supports raising threshold for compensation for flight delays
Infrastructure17:47
Majnun Mammadov: Investment in digitalization and logistics will reduce food losses
AIC17:44