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Macroeconomic outlook report: USA

Third quarter of 2019

In the third quarter of 2019, the US economy registered a y/y growth rate of 2.10%, which represented a 0.10 p.p. acceleration over the rate of 2Q19. This behavior was mainly due to the performance of domestic investment, although exports and imports registered accelerations of 6.60 p.p. and 1.50 p.p., respectively. The unemployment rate remained constant in a rate of 3.60%, while the employment growth rate accelerated by 0.37 p.p. when compared to the previous quarter, reaching a growth rate of 1.24%. Inflation stood at 1.76%, 0.06 p.p. lower than in the previous quarter. For its part, the US dollar appreciated against the euro, to an average exchange rate of 1.11 $/€.

 

Macroeconomic overview

  • The US economy grew at a year-over-year rate of 2.10% during the third quarter of 2019, accelerating by 0.10 p.p. from the previous quarter.
  • This performance was mainly due to the performance of domestic investment, followed by an acceleration of exports by 6.60 p.p.
  • With regard to the labor market, the unemployment rate remained constant with respect to the second quarter of 2019, reaching a rate of 3.60%. The year-over-year growth rate of employment raised by 0.37 p.p. compared to 2Q19, recording a variation of 1.24 %.
  • The US dollar appreciated against the euro by 0.02 $/€, reaching an exchange rate of 1.11 $/€ during 3Q19.
  • In 3Q19, inflation in the US stood at 1.76%, which was 0.06 p.p. lower than in the previous quarter.

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© GMS Management Solutions, S.L., 2020. 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.