America's economy is rebounding. But it is still in a deep hole
CNN
America is emerging from the worst of the pandemic, and that will mean some eye-popping figures when the government releases economic growth data Thursday. But the big jump — fueled by resurgent consumer spending after a year in lockdown — will still be starting from a deep hole.
Economists predict that the US economy grew at an annualized rate of 6.1% in the first three months of the year — faster the than the 4.3% recorded at the end of 2020, but far slower than the enormous 33.4% jump in the second quarter of 2020 when the economy started to reopen. An "annualized" rate is not the same as measuring one quarter to the next; annualizing assumes a quarterly rate would continue for a full year. Economists typically use the annualized rate for US GDP because it makes it easier to compare numbers over different periods of time.
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