Washington. United States economic growth accelerated in the second quarter thanks to the strength of consumer spending, the government confirmed this Thursday.
The Gross Domestic Product (GDP) of the world’s largest economy increased at an annual rate of 3.0 percent last quarter, the Bureau of Economic Analysis of the Department of Commerce reported on Thursday in its third and final review of GDP corresponding to the second period of the year. anus. Economists polled by Reuters expected GDP to remain at 3.0 percent, as previously reported. Meanwhile, first-quarter growth was revised upwards to 1.6 percent, from 1.4 percent previously announced.
The government revised national accounts data from the first quarter of 2019 to the first quarter of 2024. The revisions showed that economic growth and business profits were stronger in 2023 than previously estimated.
2019 GDP growth was revised upward to 2.6 percent; In 2020 – the year marked by the covid-19 pandemic – a contraction of 2.2 percent was recorded; in 2021 the rebound led to an expansion of 6.1 percent; In 2022 the data was 2.5 percent growth and last year 2.9 percent, every year except 2020, the data was revised upwards.
The first estimate of GDP growth in the third quarter of 2024 will be published on October 30, a few days before the November 5 election. The economy is one of the main concerns of Americans.
Jobless claims fall to lowest level in four months
The number of Americans who applied for unemployment benefits in the week ending September 21 fell by 4,000 to a total of 218,000, its lowest level since mid-May and less than the 224,000 that analysts expected, the Department reported. of Work.
The number of applications for unemployment aid is considered a reflection of layoffs in the United States and has been declining, after a modest increase recorded in early spring.
Although the labor market has lost momentum due to a decline in job openings and hiring, layoffs have remained low and there are no signs of deterioration.
Claims have remained mostly stagnant since falling from an 11-month high of 250,000 in late July following temporary plant closures in the auto industry.
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– 2024-10-04 11:36:26
