The US economy grew by 1.6% in the second quarter of the year
Washington, July 29 (EFE). The US gross domestic product rose 1.6% in the second quarter of the year compared to the previous three months and exceeded the level prior to the pandemic, as reported today by the Bureau of Economic Analysis. (BEA).
The progress of US economic activity, which grew at an annual rate of 6.5%, reflects the positive impact of reopening businesses, vaccinations and government stimulus programs.
The first of three US government GDP calculations show that compared to the second quarter of 2020, when the pandemic caused a serious contraction in activities, the economy grew by 12.2%.
Consumer spending, the main driver of economic activity in the United States, rose in the quarter at an annual rate of 11.8%, driven largely by government dividends.
Most analysts had calculated that the annual rate of GDP growth would be around 8.4% between April and June. EFE
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