WASHINGTON, Sept. 30, 2021 (AFP) – The U.S. economy grew slightly more in the second quarter than the previous estimate, by 6.7% year-on-year, according to the third and final estimates of the trade sector.
One report says that this strong growth rate reflects higher consumer spending (at 12%) and higher energy exports (7.6%).
The second estimate indicates a growth of 6.6% in gross domestic product (GDP).
The reopening of the economy, thanks to the vaccine, and the billions of dollars distributed to families increased consumption by Americans between April and June.
“Families spend more on services, especially restaurants and hotels, but also on consumer goods such as medicines, clothing and footwear,” the Commerce Department report said.
The expansion allowed the world’s largest economy to return to its pre-epidemic state.
At $ 22.477 billion, total goods and services produced in the United States in the second quarter were higher than in the fourth quarter of 2019, the last period not affected by the Govt-19 crisis.
The Oxford Economy estimates that the country’s economy will double by 5.5% in 2021 and 4.4% in 2022, “2010-2019.”
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