Economic growth in the United States is picking up pace.
In the second quarter of the current calendar year, the US economic growth surpassed expectations, while the inflation rate also decreased to some extent. As a result, it is expected that the central bank will reduce the benchmark interest rate in September.
According to the statistics from the Bureau of Economic Analysis at the US Department of Commerce, released on Thursday, August 4th, the Gross Domestic Product (GDP) in the second quarter of this year has increased by 28% compared to the same period last year.
Earlier this year, independent economic analysts predicted that the GDP growth rate for this period would be between 1% to 34%. The economic growth rate in the US in the first quarter of the current calendar year was 14%.
According to the criteria of the US central bank, an economic growth rate of around 18% is not considered inflationary.
Despite repeated increases in the bank interest rate in 2022 and 2023 with the aim of controlling inflation, the economic growth of the US is higher than similar economies. One of the important factors is the resilient labor market and the continuous creation of new job opportunities.