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USA: Economy grows a little faster than expected in summer

Wednesday, 12/22/2021 2:56 PM from

dpa-AFX

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The New York Statue of Liberty. New York is the stock exchange metropolis of the United States. pexels.com

WASHINGTON (dpa-AFX) – The US economy grew a little faster in the summer than previously known. Compared to the strong spring quarter, however, it has clearly lost pace. The gross domestic product (GDP) rose from the second to the third quarter by an annualized 2.3 percent, as the Department of Commerce announced in Washington on Wednesday. A previous estimate had shown growth of 2.1 percent. Analysts had expected a confirmation of the preliminary figures on average.

In the second quarter, growth was even stronger at 6.7 percent. The ministry named lower consumer spending as well as tightened corona restrictions and delayed easing due to many new infections as reasons for the slowdown in summer. In addition, numerous state support payments were lower.

US growth figures are extrapolated to the year, i.e. annualized. They are therefore not directly comparable with growth data from Europe, which is not annualized. In order to get approximately a growth rate comparable to Europe, one would have to divide the US rate by four./bgf/jsl/jha/

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