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US GDP grew by only 2% in the third quarter


Október, 28 2021
watermark Economic news

According to a press release from the Bureau of Economic Analysis of the US Department of Commerce, the US GDP in the third quarter, according to the first estimate, grew by 2% year-on-year. Analysts had expected US GDP growth of 2.7%. At the same time, in annual terms (that is, in relation to the same period of the previous year), the US economy grew by 4.9% last quarter.


The real growth rate of consumer spending in the United States for the reporting period increased by 1.6% after an increase of 12% in the second quarter. 


In the second quarter, US GDP grew by 6.7% year-on-year and by 12.2% compared to the same period of the previous year. 


According to the results of the entire last year, the American economy declined by 3.4%. Such a decline in the world's largest economy has become the most impressive since 1946. Then the indicator fell by 11.6%. In addition, this was the first decline in GDP for the year since 2009 (then the indicator dropped by 2.5%).


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.