US Economy Grew Slightly Faster Than Previously Thought

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The United States economy grew slightly faster in the second quarter than previously thought. The world’s largest economy grew by 6.7 percent, according to a new government estimate.

 

A plus of 6.6 percent was previously reported here.

The figures on growth or contraction in the US are published based on a so-called annualized calculation. Thus, the quarterly performance is imaginarily extended over a whole year. Quarter-on-quarter growth was 1.6 percent.

In the first quarter of this year, annualized growth was 6.3 percent.

Economists expect economic growth to have weakened in the third quarter due to the advance of the Delta variant of the coronavirus in the US and supply problems for many US companies, and shortages of raw materials.

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