Washington-SANA
The US economy shrank by 5.3 percent in 2020 amid the fallout from the Coronavirus.
Reuters quoted data issued by the US Commerce Department today that the US economy grew at an annual rate of 4 percent in the fourth quarter of 2020 at a much slower rate than the growth in the previous quarter.
The US Commerce Department attributed the sharp downturns of the economy last year to the continuing impact of the Coronavirus, especially the new restrictions and closures that have taken effect in some regions of the United States.
This is the largest annual decline in US GDP since 1946.
