#Wittels- Posted April 29, 2022 Share Posted April 29, 2022 Several workers operate on the New York Stock Exchange (USA). The US economy contracted 0.4% in the first quarter of the year compared to the previous three months. This, as a consequence of the rebound in covid-19 cases due to the omicron variant and high elevation, the Government will publish this Thursday, April 28, 2022. The data for the first quarter of 2022. The first of the three estimates made by the US Executive comes after the annual growth of the powerful 5.7% registered last year, the highest since 1984. The report highlighted as factors in this decline the declines in investment in inventories and the reduction in exports. Because of persistent problems in global supply chains and the disruption caused by the Russian invasion of Ukraine. However, he noted that consumer spending, which accounts for two-thirds of economic activity in the US, grew by 2.7%. The first quarter gross domestic product (GDP) data comes a week before the Federal Reserve (Fed) holds its next monetary policy meeting. In which interest rates are expected to rise by 50 basis points, to the range of 0.75% and 1% to try to curb high inflation in the country. The United States had the highest inflation rate since 1981 in March, at 8.5%, driven especially by higher energy, food and housing prices. Investors expect bad news Investors were already bracing for bad news on the economy. The expectation was that the latest GDP reading would show US economic growth plummeting to 1.1% in the first three months of the year, according to Refinitiv. Link: https://www.elcomercio.com/actualidad/mundo/economia-eeuu-contrae-drasticamente-primer-trimestre-2022.html Link to comment Share on other sites More sharing options...
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