Here’s what you need to know:The economy picked up speed last quarter, shaking off some of the lingering effects of the pandemic as consumer spending grew, bolstered by government stimulus checks and an easing of restrictions in many parts of the country.The Commerce Department reported Thursday that the economy expanded 1.6 percent in the first three months of 2021, compared with 1.1 percent in the final quarter last year.On an annualized basis, the first-quarter growth rate was 6.4 percent.
2019 Q4 LEVEL
$20 trillion
+1.6%
FROM
PRIOR
QUARTER
Gross domestic product,
adjusted for inflation and
seasonality, at annual rates
2019 Q4 LEVEL
$20 trillion
+1.6%
FROM
…
