US economy grows 5.7% in 2021, 6.9% in Q4 amid Omicron hit

[WASHINGTON] After contracting in 2020, US economic growth rebounded to 5.7 per cent in 2021, the second year of the Covid-19 pandemic, the government reported on Thursday (Jan 27).

But the hit from the Omicron variant of the virus held down the recovery in the final quarter of the year, when gross domestic product (GDP) grew 6.9 per cent.

Inflation increased 3.9 per cent in 2021, according to the Commerce Department's personal consumption expenditures (PCE) price index. AFP