Instant Reaction: The GDP Recovers to Pre-Pandemic Levels in Q1, with Strong Consumer and Residential Investment Spending

Dated: April 30 2021

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 The economy is now back to its pre-pandemic level as the economy undergoes a strong expansion by an annualized rate of 6.4% in the first quarter.1 As in the past quarter, residential investment spending outpaced GDP growth. This economic recovery is quicker and stronger compared to the recovery post-2007-2009 recession, thanks to a quick and powerful dose of monetary expansion and strong fiscal spending that propped up the consumer and residential investment spending. Investors are also bullish about the economy's growth potential, as evidenced by the rise in investment for equipment/machinery.

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