US economic growth received a boost in the first three months of 2021 from massive fiscal stimulus that fuelled consumer spending, as well as looser lockdown restrictions after new Covid-19 infections slowed.
Gross domestic product advanced 6.4 per cent on an annualised basis in the first quarter, the commerce department said on Thursday. That topped economists’ expectations for 6.1 per cent growth, according to a Refinitiv survey.
Economic output advanced 1.6 per cent compared with the previous quarter, based on the measure used by other major economies.
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