Summary
In the 4th quarter of 2020, the U.S. economy continued its rebound from the fallout of the COVID-19 pandemic. Emergency vaccine approvals and a second relief bill, the Coronavirus Response and Relief Supplemental Appropriations Act, sparked hope despite surging cases and the discovery of new, more contagious variants. Economic growth was mixed during the 4th quarter; housing and capital markets surged, while the labor market flagged in December and the dollar value dropped.
The national economy has been attempting to shake off the effects of COVID-19 since its plunge in April. Most economic measures have been recuperating since May or June, yet at the end of the 4th quarter, the U.S. economy remained less robust than before the pandemic. The U.S. remained in a recession that marked February as the peak of an economic expansion lasting 128 months from its beginning in June 2009.