The economy in the United States grew by at least 4.9 percent in the last quarter. This is despite several increases in interest rates and a slowdown in the global economy. This is the largest growth since 2021.
Consumer spending, among other things, rose sharply. Government spending and export growth also contributed to this good result in the United States, the world’s largest economy.
The growth is greater than the previous quarter, when an increase of 2.1 percent was recorded.
Americans have dealt with rising prices for a long time. Therefore, the central bank raised interest rates several times to control inflation. A side effect of this is often slower economic growth. But this is not the case in the United States at the moment.
Wages in the United States have risen sharply in recent months, relative to the prices of goods and services. This means that families have more to spend. Employers are increasing wages significantly because there are fewer employees available.
Experts expect economic growth to slow in the next quarter. Americans’ savings are slowly running out. Home builders are also becoming more cautious due to global uncertainty.
