Washington (Reuters) – The American economy progressed in the second quarter to a more marked pace than initially planned, stimulated by a decline in imports and a resumption of consumer spending, but the dynamics seem to have slowed down since, show the final data of the gross domestic product (GDP) published Thursday by the Commerce Department.
GDP increased by 3.8% in annualized pace, while the second estimate was 3.3%. Economists and analysts interviewed by Reuters provided an average increase of 3.3%.
GDP rebounded during the second quarter, thanks in particular to the reduction in flows of foreign goods after an anticipation of imports aimed at escaping the customs duties imposed by President Donald Trump weighed on GDP during the period from January to March.
The growth of the quarter was also supported by the increase in investment of companies in intellectual property products, mainly artificial intelligence.
However, the figures for the GDP in the first and second quarter do not faithfully reflect the health of the economy, in particular due to the significant fluctuations in imports.
Economists expect a second gloomy semester due to the persistent uncertainty linked to the White House trade policy, which would limit economic growth to around 1.5% in 2025.
These data were published at the same time as weekly unemployed registrations, which unexpectedly decreased during the week to September 20 to 218,000 against 232,000 (revised) the previous week, even if the labor market arouses fears due to a low hiring rate.
Bond yields increased after the publication of this data, that of ten -year -old Treasuries advancing from 4.6 base points to 4.1931%, while its two -year counterpart earns 6.7 base points at 3.6655%.
The dollar appreciates 0.39% against a basket of reference currencies.
The term contracts report an opening down 0.22% for the Dow Jones, by 0.54% for the Standard & Poor’s-500 and 0.73% for the NASDAQ, while they indicated a rather stable opening before the publication of the data.
(Report Lucia Mutikani, written by Diana Mandiá, edited by Augustin Turpin)
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