The US grew 0.5% in the second quarter, less than expected

MADRID, 30 Ago.

The US grew 0.5% in the second quarter, less than expected


The gross domestic product (GDP) of the United States registered a growth of 0.5% in the second quarter of the year, which represents an expansion rate similar to that of the first three months of 2023 and one tenth less than the preliminary estimate. as reported by the Office of Economic Analysis of the Department of Commerce.

In pure annualized terms, the bureau's preferred way of presenting the data, US GDP accelerated its expansion in the second quarter to 2.1% from 2% in the first quarter. However, this second reading of the data implies a downward revision of three tenths with respect to the preliminary estimate.

The Commerce Department has indicated that the downward revision to real GDP growth in the second quarter reflects downward adjustments to private investment in inventories and nonresidential fixed investment that were partially offset by upward revisions to consumer spending. state and local governments, while imports were revised upwards.

Last week from Jackson Hole, the president of the Federal Reserve, Jerome Powell, warned that the US central bank is attentive to signs that the economy is not cooling as expected, given that, so far this year , GDP growth has exceeded expectations, while the inflation rate "is still too high", so the US central bank is ready to raise interest rates if necessary.

The Federal Open Market Committee (FOMC), the body that sets US monetary policy, is scheduled to meet again on September 19 and 20.

At its July meeting, the US central bank unanimously decided to approve an interest rate rise of 25 basis points, until it placed them within a target range of between 5.25% and 5.50%, their highest level. since January 2001.