The state's economy has shown solid growth amid global uncertainty and challenges resulting from the pandemic. In the third quarter, gross domestic product (PIB) grew a 2.8% per yearalthough an increase of 3% was hoped for, according to data from the Oficina de Análisis Económico (BEA) of the Departamento de Comercio.
Sustained growth despite uncertainty
This progress occurred in a delicate context, marked by the proximity of the presidential elections, which could have significant repercussions both in the country and internationally. Despite concerns about a possible recession, the stable economy appears to be holding strong, driven primarily by the consumer, who accounts for more than two-thirds of GDP.
Personal consumption and internal demand
Gas for personal consumption experienced a notable increase in 3.7% between July and September, this is the highest figure since the beginning of 2023. This increase exceeds the 2.8% of the second quarter and renews the idea that the American consumer continues to feel like a key driver for the economy. Inside this gasto, the bienes experienced a growth of the 6%doubling the performance of the previous quarter, which indicates strong domestic demand.
Furthermore, final sales to domestic private buyers, which combine consumer spending and business reversal, will grow a 3.2% analyzed, highlighting the resilience of consumption in the country.
Influence of reversal and trading
Despite the consumer advantage, other factors such as commercial volatility and fixed reversal do not show mixed residential results. The fixed inversion created a 3.3%the lowest figure in a year, while residential reversal fell by a 5.1%the mayor falls from the 2022 finals, due to the increase in interest rates and mortgage prices.
Net exports are also maintained there 0.56 percentage points above the PIB, reflecting an increase in imports of consumer goods in an environment of uncertainty.
Inflation and the outlook for the federal reserve
A crucial aspect of BEA information is the evolution of inflation, via the personal consumer price index (PCE). The underlying PCE, which excludes food and energy, is found in a 2.2% analyzed in the third quarter, below the 2.8% of the previous quarter. This level is related to the objective of 2% If the Federal Reserve seeks to increase, this could influence your future decisions regarding interest rates.
The economy of EE.UU. has demonstrated remarkable resilience despite counter-trend winds. With solid growth in consumption and inflation starting to align with Federal Reserve targets, the country faces a crucial period. The proximity of elections and global uncertainty will follow as determining factors in economic evolution, and consumer attention will be essential to support this growth.
