The U.S. economy grew in the First Quarter of 2021

Gross domestic product (GDP), the broadest measure of goods and services made in the U.S., grew at a 6.4% seasonally adjusted annual rate in January through March, the U.S. Commerce Department said Thursday. That left the world’s largest economy within 1% of its peak, reached in late 2019, just before the coronavirus pandemic reached the U.S.

The growth in GDP, a measurement of the U.S. economy, was driven by a few factors. The stimulus money that many Americans have received, the acceleration in the number of vaccinated Americans, and many of us making big ticket purchases like cars and furniture.

This bounce back is on the heels of just a year ago, in 2020, the economy was sharply contracting—output in the second quarter of 2020 fell by a record annual rate of 31.4%.

Things appear to be heading in the right direction. Stay tuned and make sure that you are properly invested for the long-term. Need a second opinion on your portfolio? Reach out for a complementary assessment.

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