US economy grew 5.7% in 2021, fastest since 1984 | www.WDIO.com

US economy grew 5.7% in 2021, fastest since 1984

US economy grew 5.7% in 2021, fastest since 1984 Photo: MGN

PAUL WISEMAN, AP Economics Writer
Created: January 27, 2022 04:30 PM

WASHINGTON (AP) — The U.S. economy grew last year at the fastest pace since Ronald Reagan's presidency, bouncing back with resilience from 2020's brief but devastating coronavirus recession.

The nation's gross domestic product — its total output of goods and services — expanded 5.7% in 2021. It was the strongest calendar-year growth since a 7.2% surge in 1984 after a previous recession.

The economy ended the year by growing at a solid 6.9% annual pace from October through December.

Squeezed by inflation and still gripped by COVID-19 caseloads, the economy is expected to keep expanding this year, though at a slower pace.

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PAUL WISEMAN, AP Economics Writer

Copyright 2022 The Associated Press. All rights reserved.

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