Wednesday, May 31, 2023

The US confirms the economic slowdown with quarter-on-quarter growth of 0.3%

USA confirmed this Thursday cooling of its economy by maintaining the calculation of 0.3% for quarter-on-quarter growth between January and March, three tenths below that registered in the last three months of 2022.

The Bureau of Economic Statistics (BEA) nevertheless estimated a higher annual growth rate than initially calculated: 1.3% compared to the 1.1% of the first publication of this statistic last April.

According to the BEA, the improvement of the annual calculation is due to an upward revision of private investment and public spending, as well as non-residential investment and the consumption and exports, which offset the lower residential investment. Imports were also revised upwards.

In any case, the data confirm that the first world economy It has slowed down its growth at a time marked by continuous rises in interest rates to contain inflation.

At the beginning of the month, the Federal Reserve raised the official interest rate by 0.25 points to place it in a range between 5% and 5.25%, its highest rate in 15 years.

In April, the rate of inflation it fell one tenth and stood at 4.9%. The unemployment rate was that month at 3.4%.


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