The United States reduced its growth estimate during the third quarter of the year by one tenth, to 1.2%as reported by the Bureau of Economic Statistics (BEA, in English).
This form of annual growth is calculated in this third and final estimate of the gross domestic product (GDP), which reached 4.9%, three tenths below the previous estimate. Likewise, the figures show that there is a good pace in the economic progress of the US.
In this way, if compared to the second quarter, when it was 0.5% quarter-on-quarter and at an annual rate of 2.1%, has had a significant acceleration and faces the end of the year with much more optimistic forecasts.
The BEA indicates that the increase in the third quarter was driven by the increase in all components of GDP, especially private consumption, but also by private investment and the improvement in exports and imports.
Interest rates do not affect growth
The decisions of the Federal Reserve (Fed) They have not cooled the US economy as expected, but they have managed to slow down inflation. Furthermore, the unemployment rate in the United States fell two tenths in November compared to October and stood at 3.7%, and 199,000 new jobs were created, 49,000 more than those generated a month before.
It should be noted that the latest GDP calculation is known days after the FED decided to maintain interest rates at their current range of 5.25% to 5.5%.
And they are also exposed at a time when inflation is at 3.1% (for November), which continues to slow down.
Jerome Powell, its president, Jerome Powell, during the last meeting cautiously suggested that rates may have reached their maximum, although he warned that everything will depend on the country’s economic evolution.
Source: Larepublica
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