GDP Annual Growth in the United States averaged 2%
As indicated by the Bureau of Economic Analysis of the Government (BEA), the Gross Domestic Product of the nation presented this behavior between the months of April and June
The Gross Domestic Product (GDP) of the United States experienced an annualized growth of 2% between the months of April and June, which represents a fall of 1.1 percentage points with respect to the increase of the immediately preceding quarter, according to the third estimate of the data published this Thursday by the Government Bureau of Economic Analysis (BEA).
Without taking into account the growth of 1.1% in the fourth quarter of 2018, affected by the closure of the federal government in the US, the data published is the worst since the fourth quarter of 2015, when the economy of the North American country grew 0.1%
Private investment and the trade balance were the two variables that dragged down GDP growth by almost two percentage points.
Specifically, investment between April and June contracted 6.3%, mainly due to the 11.1% drop in equipment investment. In turn, exports fell 5.7% in the second quarter, while imports stagnated.
Consumer spending, the variable that led the growth of GDP in the second quarter of the year, increased at a rate of 4.6%, compared to 1.1% recorded in the previous quarter. Government investment and expenditure, which totaled almost eight tenths of GDP growth, grew at a rate of 4.8%, which is equivalent to its highest rate since the second quarter of 2009.
The US Department also reported that disposable personal income grew 4.8%, one tenth less than between January and March. Likewise, the personal savings rate decreased by five tenths, to 8%.
K. Tovar
Source: Finanzas
