US revise its GDP estimate for Q4 of 2021 to 7%

US Government on Thursday upgraded their earlier GDP estimate for October-December quarter of 2021 to 7% Y-o-Y. For the financial year 2021 the gross domestic output jumped 5.7%, the fastest since the 7% growth witnessed in 1984 after the brutal recession. International Monetary Fund expect US economy to growth at 4% for 2022.

For the financial year 2022, looking at accelerating inflation, high interest rate and military tension between Russia and Ukraine, the outlook for the economy does not look good going forward. Supply chain problem will also likely put dent to the business momentum.

Source: US slightly revises up its GDP estimate for Q4 to 7%—The Financial Express

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