He gross domestic product (GDP) of USA advanced 1.2% in the third quarter, which represents a rebound in growth, according to data published this Thursday by the Bureau of Economic Statistics (BEA), which reported that the annual rate was 4.9%.
With these figures, the world’s leading economy leaves behind the slowdown of the second quarter of the year, when quarter-on-quarter growth was only half a point, at an annual rate of 2.1%.
For the president of the United States, Joe Bidenthese numbers are an example of the “resilience of American consumers and workers” and the result of the economic agenda promoted under his mandate.
“The unemployment rate has been below 4% for 20 consecutive months, real wages have increased over the past year, and median household wealth has grown by a record amount taking inflation into account,” he said in a statement. provided by the White House.
The strength of household consumption, together with the increase in exports and an increase in spending on private and public investment, drove the greatest growth between July and September.
“I hope Republican members of Congress will join me in building on this progress rather than putting our economy at risk with reckless threats of a government shutdown or proposals to cut taxes for the wealthy and large corporations while cutting essential programs.” “Biden added.
The data is known a few days before the US Federal Reserve (Fed) holds a new monetary policy meeting after which a new rate increase could be decided, given that the economy does not show signs of cooling, but rather Quite the opposite, and inflation does not go down to the desired extent.
Source: Larepublica
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