Baku 35° 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
17:12
Azerbaijan's oil exports to Tunisia up 2.4 times in 1H2026
Energy17:08
Death toll in Kyiv region missile strike rises to 10
Other countries16:54
Azerbaijan weather forecast for July 25
Ecology16:42
Photo
Azerbaijani journalists visit Kyrgyzstan's spiritual center
Tourism16:38
Bangladesh's President Shahabuddin resigns citing health concerns
Other countries16:29
IRGC says Iran struck US military base in Kuwait
Other countries16:22
Peskov says Russia awaits new US proposals on Ukraine conflict
Region16:08
EU avoids timeline for Armenian produce entering bloc's markets
Other countries15:55