US GDP presents annualised growth of 2.1%

Between the months of April and June the United States presented these figures, which if compared with other periods of time show a drop of one percentage point

The gross domestic product (GDP) of the United States experienced an annualised growth of 2.1% between the months of April and June, which represents a drop of one percentage point with respect to the increase of the immediately preceding quarter, according to the first estimate of the data published this Friday by the Government Economic Analysis Office (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 have been the two variables that have dragged down GDP growth by more than one and a half percentage points.

Specifically, the investment between April and June contracted 5.5%, mainly due to the 10.6% drop in equipment investment. In turn, exports fell 5.2% in the second quarter, while imports advanced by one tenth.

Consumer spending, the variable that led the growth of GDP in the second quarter of the year, increased at a rate of 4.3%, compared to 1.1% recorded in the previous quarter. Government investment and expenditure, which have also added to GDP in this period, grew by 5%, which is equivalent to its higher rate since the second quarter since 2009.

The US Department has also reported that disposable personal income grew 4.9%, one tenth less than between January and March. Likewise, the personal savings rate decreased by four tenths, to 8.5%.

K. Tovar

Source: ELCEO

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