The US economy grew by 0.3% in the first quarter of 2023.

Economy USA increased by 0.3% in the first quarter of 2023 compared to the last three months of 2022, according to the calculation Gross domestic product published this Thursday by the State Bureau of Economic Analysis (BEA).

The data shows a slowdown in the world’s leading economy, as a quarterly increase GDP in the last quarter of 2022 it was three tenths higher than -0.6%.

Statistical data also calculate that the annual level height in these first three months of the year it was 1.1%, well below the 2.6% calculated in the last quarter of 2022.

The slowdown is attributed to a decline in private investment in inventory, i.e. the money companies spend to buy inventory for their inventory that they later plan to sell, as well as fixed investment, which is the purchase of residential properties. property and for rent.

He height in the first three months of 2023 reflects an increase in government and consumer spending, in addition to an increase in exports, among other things, according to BEA.

Consumer spending was driven by an increase in both goods and services: in the case of goods, car purchases rose, while in the case of services, there were more spending related to food and healthcare.

moderate economic growth

According to these data, the economy USA It has slowed its growth for two consecutive quarters since emerging from recession in the third quarter of 2022.

The North American nation closed last year up 2.1%.

After today’s data, the economy USA shows signs of cooling after the Federal Reserve’s (Fed) latest rate hike, which was 0.25 points in March – the ninth of the year – to curb inflation despite turbulence in the banking system.

Last month, the unemployment rate fell by one tenth to 3.5%, while inflation continued to decline – for the ninth consecutive month – to 5%.

GDP data will be published after the Lower House USAwith a majority of Republicans, will approve a bill to raise the debt ceiling in exchange for a significant reduction in public spending, although this initiative has little chance of success in the Senate, where Democrats are in the majority.

The project is designed to answer one of the country’s most pressing problems, which in January last year reached the limit of the money the government can legally borrow, threatening to send the world’s largest economy into default on public debt. recession.

(EFE)