The US economy is rebounding faster than expected from the Covid-19 recession, outperforming the most pessimistic estimates.
But some areas remain largely shut down. So what will recovery look like? The International Monetary Fund estimates the GDP of the United States will expand by 5.1 percent this year, after contracting by 3.5 percent in 2020 as the pandemic forced lockdowns that shuttered businesses nationwide.
The nearly $3 trillion in government stimulus programs last year, including a $900 billion measure approved in late December, were key to helping the US economy bounce back.—AFP