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US Economy Slowed But Didn't Collapse at End of 2020

Ken Bredemeier

   WASHINGTON - The U.S. economy slowed markedly but didn't collapse in
   the last three months of 2020, the Commerce Department reported
   Thursday, even as thousands of businesses have been forced to curtail
   their operations because of the still surging coronavirus pandemic.

   The U.S. national economy, the world's largest, grew by 1% in the
   October-to-December period, down from a robust 7.5% advance in the
   previous three months.

   With the sharp economic decline recorded at the height of the pandemic
   earlier in the year, the U.S. economy slumped 3.5% in 2020 from the
   prior year, the Commerce agency reported. By comparison, the economy
   gained 2.2% in 2019.

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