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$1.3 trillion
Latinas contributed $1.3 trillion to the U.S. gross domestic product in 2021, up from $661 billion in 2010 and at a growth rate nearly triple that of non-Latinos during the same time period, according to a new report funded by Bank of America and conducted by professors at California Lutheran University and UCLA.
2.8%
“Economic activity in the U.S. was considerably stronger than expected during the second quarter,” CNBC reports. “Real gross domestic product, a measure of all the goods and services produced during the April-through-June period, increased at a 2.8% annualized pace adjusted for seasonality and inflation. Economists surveyed by Dow Jones had been looking for growth of 2.1% following a 1.4% increase in the first quarter.”
3.3%
“The economy grew much faster than expected in the final three months of 2023, as the U.S. easily skirted a recession that many forecasters had thought was inevitable,” CNBC reports. “Gross domestic product, a measure of all the goods and services produced, increased at a 3.3% annualized rate in the fourth quarter of 2023, according to data adjusted seasonally and for inflation.”
1.9%
Morgan Stanley is crediting President Biden’s economic policies with driving an unexpected surge in the U.S. economy that is so significant that the bank was forced to make a “sizable upward revision” to its estimates for U.S. gross domestic product, CNBC reports. As a result of these unexpected swells, Morgan Stanley now projects 1.9% GDP growth for the first half of this year. That’s nearly four times higher than the bank’s previous forecast of 0.5%.
2.6%
The U.S. economy expanded at a 2.6% annual rate in the third quarter, ending the streak of back-to-back contractions that raised fears the country had entered a recession, Axios reports.
1.4%
“Gross domestic product unexpectedly declined 1.4% in the first quarter, marking an abrupt reversal for an economy coming off its best performance since 1984,” CNBC reports. “The negative growth rate missed even the subdued Dow Jones estimate of a 1% gain for the quarter.” “Rising omicron infections to start the year hampered activity across the board, while inflation surging at a level not seen since the early 1980s and the Russia invasion of Ukraine also contributed to the economic stasis.”
3.5%
“The U.S. economy shrank by 3.5 percent last year as the novel coronavirus upended American business and households, making 2020 the worst year for U.S. economic growth since the depths of the Great Recession,” the Washington Post reports. “This is the last GDP report from former president Donald Trump’s tenure. Until the pandemic, Trump was on track for an economic record that put him near the middle of the pack among recent presidents. But the covid-19 crisis has ensured that he is likely to have overseen the slowest economic growth of any president in the period since the Second World War.”
