Friday, January 21

USA raises GDP growth to 0.6% in the third quarter

The Gross Domestic Product (GDP) of the United States (USA) in the third quarter of 2021 experienced an increase of 0.6% compared to the previous three months, which represents an upward revision of one tenth compared to the previous estimate of the data, according to Government Economic Analysis Office.

Despite this improvement, US GDP growth during the third quarter represents a significant slowdown compared to the 1.6% observed between April and June, as well as compared to the 1.5% expansion in the first three months of the year .

The Office explained that between July and September the increase in new cases of Covid-19 caused new restrictions and delays in the reopening of establishments in some parts of the country.

In addition, it has indicated that the federal government assistance programs (forgivable loans, aid to local and state governments and social benefits for households) were reduced.

In annualized terms, the PIB estadounidense it slowed down until registering a growth of 2.3% between July and September, two tenths more than the previous estimate. In the immediately preceding quarter, the annualized expansion of the economy was 6.7%.

Between January and March, the growth reached 6.3%.

Thus, real GDP in the US was 1.4% above the level corresponding to the fourth quarter of 2019, before the pandemic, in the third quarter of 2021.