The United States managed to get out of the recession

The Gross Domestic Product (GDP) of the United States experienced an increase of 0.6% in the third quarter of 2022, according to the first estimate of the data published this Thursday by the US government’s Bureau of Economic Analysis (BEA).

In this way, the United States left the technical recession in which it had entered the second quarter, when the economy contracted by 0.1 %, after having observed a fall of 0.4 % in the first three months of the year. Technical recession is called, according to the consensus of economists, the economic situation that occurs when two quarters of economic contraction are chained together.

The BEA detailed that, between July and September, there was a small decrease in investment in private inventories, although non-residential fixed investment accelerated and government spending increased. Residential fixed investment also fell and consumer spending slowed.

In purely annualized terms, the Bureau’s preferred way of presenting the data, US GDP rose 2.6 % in the third quarter of the year, compared with a 0.6 % decline in the second quarter. The annualized decline in the first quarter was 1.6 %.

In the third quarter, the BEA indicated that the saving rate of Americans was 3.3 %, one tenth less than in the previous three months. On its side, disposable income increased by 1.7 %, after having fallen by 1.5 % between April and June.

K. Tovar

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Source: El Español