According to data from the Bureau of Economic Statistics (BEA), the United States recorded progress in its economy during the third quarter of the year in GDP by 1.2%, which represents a recovery in its growth.
The report stated that the annual growth rate reached 4.9%, which leaves behind the slowdown observed by the world’s leading economy in the second quarter, when growth on a quarterly basis was only half a point, at an annual rate of 2.1%.
Strong household consumption, coupled with rising exports and increased spending on private and public investment, led to the largest growth between July and September, according to data published on Thursday.
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The US economy is seeing a 1.2% recovery, but inflation persists
These data are known a few days before the Federal Reserve holds a new monetary policy meeting after which it can decide on a new increase in interest rates, given that the economy does not show symptoms of a slowdown, quite the opposite, and inflation does not appear to eventually decline to the required extent.
The latest inflation data put this rate at 3.7% in September, the same as the previous month.
Federal Reserve Chairman Jerome Powell warned last week in a speech in New York that interest rates should remain high because there is still a way for inflation to reach its 2% target.
Interest rates now range between 5.25% and 5.5%, their highest level since 2001.
With information from EFE.
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