USA revises growth in the third quarter to 3.4%

USA revises growth in the third quarter to 3.4%

Economic growth in the United States stood at an annual rate of 3.4% in the third quarter, according to the third calculation, which revised down the estimates of last October and November, revealed today the Department of Commerce.

This result supposes a decrease of 0.1 percentage points with respect to the previous calculations, when the evolution of the productive apparatus between July and September was estimated at 3.5%.

The slowdown in growth was confirmed after the figures for personal consumption expenditure and exports were revised downwards, while the calculation of investment in private inventories went up.

The Commerce Department highlighted that "the general panorama of economic growth remains the same".

The US economy closed the second quarter with growth of 4.2%, the largest increase per quarter registered since 2014, while in the first quarter it rose 2.5%.

The government of President Donald Trump plans to bring economic growth at an annual rate of 3%, driven by a huge fiscal stimulus plan, approved in December 2017, which includes notable tax cuts for companies and, to a lesser extent, , for the workers.

This week, the Federal Reserve (Fed), which ended 2018 with a quarter percentage point increase in interest rates, set between 2.25% and 2.50%, maintained the forecast for economic growth in the United States. United at 3.1% for this year.

In addition, he predicted that the economy will grow between 2% and 2.7% in 2019, and will advance between 1.5% and 2.2% in 2020.

In turn, the forecast of the unemployment rate of the central bank remains at 3.7%, a level close to full employment, and is expected to range between 3.4% and 4% in 2019.

The inflation expectation for this year is between 1.8% and 1.9%, and is expected to be around 1.9% and 2.2% in 2019.

The Fed defended its independence with the rise in rates, after Trump asked the central bank this week to avoid making "a new mistake".

"I hope that people in the Fed read the editorial of the Wall Street Journal today before committing a new mistake, and do not let the market become less liquid than it already is," the president said in his statement on Tuesday. twitter account.


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