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Macroeconomic outlook report: USA

Second quarter of 2019

In the second quarter of 2019, the US economy registered a y/y growth rate of 2.10%, which represented a 1 p.p. deceleration over the rate of 1Q19. This behavior was mainly due to the performance of external demand, which presented a deceleration in exports. The unemployment rate decreased by 0.30 p.p., to 3.60%, while the employment growth rate decelerated by 0.33 p.p. when compared to the previous quarter, reaching a growth rate of 0.87%. Inflation stood at 1.82%, 0.19 p.p. higher than in the previous quarter. For its part, the US dollar appreciated against the euro, to an average exchange rate of 1.13 $/€.

 

Macroeconomic overview

  • The US economy grew at a year-over-year rate of 2.10% during the second quarter of 2019, decelerating by 1 p.p. from the previous quarter.
  • This performance was mainly based on the performance of external demand, following a deceleration of exports by 9.30 p.p. to -5.20%.
  • With regard to the labor market, the unemployment rate decreased by 0.30 p.p. with respect to the first quarter of 2019, reaching a rate of 3.60%. The year-over-year growth rate of employment slowed by 0.33 p.p. compared to 1Q19, recording a variation of 0.87%.
  • The US dollar appreciated against the euro by 0.01 $/€, reaching an exchange rate of 1.13 $/€ during 2Q19.
  • In 2Q19, inflation in the US stood at 1.82%, which was 0.19 p.p. higher than in the previous quarter.

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© GMS Management Solutions, S.L., 2019. All rights reserved. The information contained on this publication is of a general nature and does not constitute a professional opinion or an advisory service. The data used in this publication come from public sources. GMS Management Solutions, SL assumes no liability for the veracity or accuracy of such data.