The United States economy slowed its growth in 2022, after official data reported, this Thursday, April 28, a drop in gross domestic product (GDP) of -1.4% in the first quarter. US production has not fallen since 2020.
In a report, the Department of Commerce pointed out that the factors behind the decline in the US economy are due to declines in investment in inventories and the reduction in exports, due to the persistent problems in global supply chains and the alterations caused by for the Russian invasion of Ukraine.
“The fall in GDP reflects the reduction in private investments, exports, (…) public spending by the federal state and local governments, while imports (…) increased,” the entity explained in a statement.
This first data is one of the three estimates for 2022 made by the US Executive, and it comes after the annual growth of the powerful 5.7% registered last year, the highest since 1984.
Despite this, experts doubt that this will influence the Federal Reserve to raise interest rates aggressively to fight inflation. It should be noted that the monetary authority will hold its meeting between May 2 and 3.
Source: Larepublica
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