After reporting a substantial rebound in U.S. economic activity in the third quarter, the Commerce Department released a report on Thursday showing economic growth matched economist estimates in the fourth quarter of 2020.
The Commerce Department said real gross domestic product jumped by 4.0 percent in the fourth quarter after skyrocketing by 33.4 percent in the third quarter. The continued GDP growth came in line with expectations.
Despite the rebound in the second half of the year, GDP for 2020 contracted by 3.5 percent following the 2.2 percent growth seen in 2019.
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