2024-08-02 11:51:45
He GDP of USA grew more than expected in the second quarter of 2024, by 2.8% in annual projection, against 1.4% in the first quarter, according to the first estimate of the Department of Commercepublished yesterday.
Analysts had expected stronger growth in the second quarter of the year, although of a lower magnitude (1.9%) for the April-June period, according to the consensus published by briefing.com. USA measures the growth of its economy in the quarter with a projection to 12 months based on the conditions at the time of the measurement.
In the quarterly comparison, the growth is 0.7%, contra 0.4% between the first quarter of this year and the last quarter of last year.
He Department of Commerce explains this strengthening of growth by an “increase in consumer spending, both on goods and services,” and also “an increase in private investment in inventory” in companies.
This data is good news for the president. Joe Biden and for his vice president, Kamala Harris, who will be nominated as the candidate for the Democratic Party for the presidential elections on November 5 and will seek to defend the government’s economic achievements as a campaign argument. Department of Commerce will publish the PCE inflation index in the neighboring country on Friday.
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2024-08-02 11:51:45