Overall, GDP shrank 3.5% in 2020, the steepest drop since 1946.
Fourth-quarter growth was down from an 33.4% annualized increase in the third quarter, which followed a record drop of 31.4% in the second quarter.
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Navigating the Unchartered Waters: Rising Interest Rates in Mortgage Lending Explore how rising interest rates are affecting mortgage lending and homebuyer affordability in the current market.
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U.S. Economic Growth Slows to End Worst Year Since 1946
The U.S. economy wrapped up its worst year since the end of World War II with a 4% seasonalized and annualized growth rate in the fourth quarter, matching analyst forecasts. So reports CNN.
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