The US presented a rise in its GDP of 0.7% last year. This advance occurred in the context of moderate inflation and a low unemployment rate in the country.
The economy of USA It increased 2.1% during 2022 compared to 2021, according to the first calculation of the country’s annual gross domestic product published last Thursday, January 26, by the Office of Economic Analysis (BEA). Thus, the US GDP advanced 0.7% in relation to the previous quarter, which would mean an annual growth rate of 2.9%, according to the revealed statistics.
These figures are higher than the annual growth expectations estimated by the International Monetary Fund (IMF), which in its latest report indicated that the country would grow by only 1.6% in 2022.
Likewise, this increase of seven tenths occurs within the framework of moderate inflation, low unemployment, continuous uncertainties in the supply chain and rising interest rates.
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US economy recovers
Thus, USA 2022 closes with a growth lower than that registered in 2021 (5.9%), but without so much fear of a possible recession after the first two quarters of decrease.
“This has been the fastest economic recovery we have seen since 1953.”Alejandra Castillo, Undersecretary of Commerce and Economic Development of the Department of Commerce, told EFE.
This is in reference to the economic slowdown that the US experienced in the second quarter of 1953 and which lasted only until the first three months of the following year.
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In addition, the official highlighted in a positive way the measures that the Government of Joe Biden has taken to strengthen the economy.
However, quarter-on-quarter growth has slowed slightly following the decline in exports, the pace of non-residential fixed investment, state and local government spending, and consumer spending.
To cope, these falls were partially offset by a rebound in private investment in inventories, an acceleration in federal government spending, and a smaller decline in residential fixed investment.
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Waiting for the Fed
In December, the Federal Reserve carried out its last increase in the reference rates, which was the seventh since March. Although this was only half a point compared to the four consecutive high increases of 0.75 that occurred in the year, it has not yet been reported if the advances are going to stop.
On January 31 and February 1, the members of the Fed’s Federal Open Market Committee (FOMC) will decide the next increase.
Source: Larepublica
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