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U.S. economy grew at a 4% pace in the 4th quarter of 2020

The U.S. economy grew at a 4% annualized pace in the last quarter of 2020, meaning the economy shrunk by -3.5% for the full year, the government said on Thursday.

Why it matters: One of the last major economic report cards of the Trump era shows a sharp slowdown in growth compared to the previous quarter, as the pandemic got worse and government aid petered out.

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