If the growth is compared to the last quarter of 2023, it is observed that the North American economy barely grew 0.4% in the first three months of the year.
The United States economy experiences a marked slowdownaccording to the preliminary estimate published by the Office of Economic Analysis (BEA, for its acronym in English). This report indicates that the world’s leading economy grew at a rate of 1.6%, considerably below the consensus estimateor, which stood at 2.5%.
This slowdown is evident noting that the US economy registers a sudden change in just two quarters: in The fourth quarter of 2023 grew by 3.4%, compared to 4.9% in the third quarter of the previous year.
According to the first estimate from the Commerce Department, released on Thursday, US gross domestic product (GDP) growth was weaker than expected in the first quarter of 2024, reaching an annualized rate of 1.6%, in contrast to the 3.4% from the fourth quarter of 2023.
Analysts, following the Market Watch consensus, expected growth of 2.2% between January and March. In the US calculation, growth is presented at an annualized rate, which compares GDP with that of the previous quarter and then projects the change for the entire year at the rate of those three months.
If we compare the growth with respect to the last quarter of 2023, it is observed that the economy barely grew 0.4% in the first three months of the year.
Source: Ambito
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