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The U.S. economy ended 2021 by expanding at a brisk 7% annual pace from October through December, the government reported Feb. 24 in a slight upgrade from its earlier estimate as businesses stepped up their restocking of supplies.

U.S. economic growth accelerated by more than forecast in the fourth quarter, fueled by the rebuilding of inventories and capping the strongest year since the 1980s.

U.S. economic growth slowed more than expected in the third quarter to the softest pace of the pandemic recovery period as snarled supply chains and a surge in COVID-19 cases throttled spending and investment.

WASHINGTON — The U.S. economy grew at an annual rate of 4.3% in the final three months of 2020, slightly faster than previously estimated.

The U.S. economy downshifted in the final three months of 2020 after record third-quarter growth, as the pandemic battered the labor market and limited Americans’ ability and willingness to spend.

The U.S. economy bounced back with a record yet temporary surge of growth in the third quarter as businesses reopened and stimulus cash powered consumer spending — reversing much of the collapse stemming from coronavirus lockdowns.

The gross domestic product of the United States shrank a record-setting 32.9% in the second quarter, tracking closely with economists’ expectations.

The U.S. economy shrank at a dizzying 32.9% annual rate in the April-June quarter — by far the worst quarterly plunge ever — when the viral outbreak shut down businesses, throwing tens of millions out of work and sending unemployment surging to 14.7%, the government said July 30.

The U.S. economy is likely in the midst of its deepest recession since the end of World War II, when modern records that tracked the nation’s gross domestic product and unemployment rates were standardized.

The U.S. economy contracted by 4.8% on an annualized rate in the first quarter, according to the U.S. Commerce Department, which released the gross domestic product figures April 29.