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January 27, 2023
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US economy grew 2.1% in 2022

Economía de Estados Unidos creció 2,1 % en 2022

The United States economy It grew 2.1% in 2022, according to the first calculation of the country’s annual gross domestic product published this Thursday by the Office of Economic Analysis (BEAin English).

According to this statistic, the US GDP increased by 0.7% compared to the previous quarter, which would mean an annual growth rate of 2.9%.

This rise of seven tenths occurs, points out the beaamid subdued inflation, low unemployment, continued supply chain uncertainties and rising interest rates.

The quarter-on-quarter growth has slowed down slightly -it was one tenth higher in the third quarter-, which is attributed to the drop in exports and the pace of non-residential fixed investment, government spending state government and local and consumer spending, notes the BEA.

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These falls were partially offset by a rebound in private investment in inventories, an acceleration in government spending, federal government and a smaller decrease in residential fixed investment. Imports fell less in the fourth quarter than in the third.

The data for the fourth quarter are still incomplete, explained the BEAand this estimate could vary, so the final data will not be known until the end of March.

Although with growth much lower than that registered in 2021 (5.9%), the United States thus closes the year, with 2.1% annual growth, having forgotten the fear of a recession after the first two quarters of decline.

There were increases in consumer spending, exports, investment in private inventories and the fixed investment non-residential, which were partly offset by declines in residential fixed investment and the expense of Government federal.



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