The United States economy gave another acceleration in the second quarter of the year, spurred by the openness, the advance of vaccines and the new economic stimuli of the Government, and achieved a growth rate of 1.6% (6.5% in the annualized data), which allowed it to recover the pre-ndemic level. The first power has not only experienced the shortest recession in history – it lasted only two months, from February to April 2020 – but it has also conquered lost ground at breakneck speed. In the Great Recession of 2009, it took him two years.
Growth, however, is far from the 2.1% (8.5% in annualized rate) that analysts had calculated. It is only one tenth higher than that registered in the first quarter, 1.5%, when vaccination spread slowly across the country, the return to normality was more timid and the revitalization program had not yet been launched $ 1.9 trillion from the Joe Biden Administration.
Consumer spending has grown by a remarkable 2.95%, but private investment has contracted by 3.5%. The labor market, on the other hand, is slowing down at the same time that many employers complain about the lack of workers, which has ignited the debate over the approved welfare benefits promoted by the Democrats. The unemployment rate stood at 5.9% last month, which was an increase of one tenth compared to May and moved it away a little more than 3.5% before the pandemic.
The advance of the delta variant of the coronavirus may cast a shadow over the coming months. Federal Reserve Chairman Jerome Powell was optimistic on Wednesday, but remained cautious about the effects of this new version of the virus on the economy. “We are not experts in this [el virus], but with a reasonably high percentage of the population vaccinated and the vaccines working, it seems correct to estimate that the effects will be less ”, he said at a press conference.
The body that dictates monetary policy in the United States, equivalent to central banks, raised its growth forecast for this year to 7% last June, compared to the 6.5% projection it had made last March, a Cruising speed not recorded since the 1980s. The landslide from which it emerged was also the sharpest since the Great Depression.