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WASHINGTON — Powered by consumers, the U.S. economy grew at a brisk 6.4% annual rate last quarter — a show of strength fueled by government aid and declining viral cases that could drive further gains as the nation rebounds with unusual speed from the pandemic recession.

The velocity of the U.S. economy’s post-pandemic rebound hinges on more than just an increasingly capable consumer, and business spending appears poised to deliver its own boost.

The U.S. economy is poised for a strong recovery in the third quarter, provided the number of people being given the COVID-19 vaccine significantly improves and Congress and the White House reach a COVID relief package.

The U.S. economy is projected to grow at a robust 4.6% annual rate this year, but employment isn’t expected to return to pre-pandemic levels until 2024, the Congressional Budget Office said Feb. 1.

2021 welcomes a new administration and offers a new climate in which to negotiate freight hauling, but it must also contend with some of 2020's ailments, including a continuing pandemic and the wildly disparate performance of different business sectors. ATA Chief Economist Bob Costello joins TT's Dan Ronan to discuss this interesting economic moment and what it means for the trucking industry.

The incoming Biden administration faces a U.S. economy that appears to be slowing as COVID-19 cases surge.

The U.S. economy’s growth is likely slowing as 2020 comes to a close, but a growing number of economists expect it to claw back to its pre-pandemic strength by the second half of next year as vaccines for the coronavirus become widely distributed.

President-elect Joe Biden met Nov. 16 with the chief executives of General Motors Co. and Microsoft Corp., as well as key labor leaders, as he begins to outline how to contain the coronavirus pandemic and revive the economy during his administration.

While the trucking industry’s financial health continues to excel, the overall U.S. economy is trying to gain momentum.

The trucking and freight economy appears to be doing better than the overall U.S. economy as fleets adjust to contend with supply chain changes caused by the COVID-19 pandemic.