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US economy posts first growth in 3 quarters NHK

The US economy grew in the three months through September, marking the first expansion in three quarters.

The Commerce Department said Thursday that gross domestic product increased at an annualized rate of 2.6 percent in the third quarter. That is a rebound from a 0.6 percent contraction in the previous three-month period.

Strong exports boosted the recovery. They surged more than 14 percent. Government spending also increased by 2.4 percent.

But growth in consumer spending, which accounts for more than two-thirds of US economic activity, slowed to 1.4 percent.

Some analysts pointed out that the economy is weaker than the headline figure suggests because the rebound was largely driven by exports and government spending.
Summary
US GDP grew at an annualized rate of 2.6% in Q3 20XX, following a 0.6% contraction in Q2. This recovery was primarily driven by strong exports (up more than 14%) and government spending (increased by 2.4%). However, consumer spending growth slowed to 1.4%. Analysts suggest the economy might be
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ID: 2d14a8bd-af19-43ed-8dcc-3aed68a317a3

Category ID: nhk

URL: https://www3.nhk.or.jp/nhkworld/en/news/20221028_20/

Date: Oct. 28, 2022

Created: 2022/10/28 12:32

Updated: 2025/12/09 12:15

Last Read: 2022/10/28 12:35