GDP grew 3.1% in the December quarter, taking the yearly rate to -1.1%. The result marked the second straight strong quarter of growth as the economy continues to recover from Covid-19 led restrictions helped by high levels of monetary and fiscal stimulus.
Household consumption rose 4.3% in the quarter, while government spending rose for the tenth straight quarter, up 0.8%. Employment rose 29,100 in January, falling short of the expected 40,000 new jobs, however the unemployment rate fell to 6.4%, below expectations of 6.5%, marking the lowest rate since April 2020 as the economy emerges from the pandemic shocks.
Read more here: Paradigm Group Monthly Market Insights – February 2021
