(Washington) The growth of the gross domestic product (GDP) of the United States was confirmed at 3.0% at an annualized rate, according to the third and final estimate published Thursday, almost a month before the presidential election in which the economic situation plays a preponderant role.
Published at 9:06 a.m.
The Commerce Department, however, revised growth in the first quarter upwards to 1.6% from 1.4% initially announced.
The United States publishes its growth at an annualized rate, which compares GDP to that of the previous quarter and then projects the change over the entire year at that rate.
Additionally, the Commerce Department released updated growth data since 2019 on Thursday, with upward revisions except for 2020, which remained unchanged.
The growth of the Gross Domestic Product (GDP) for 2019 has thus been revised to 2.6% against 2.5% initially announced. The year 2020, marked by the COVID-19 crisis, had seen the GDP fall by 2.2%.
Growth in 2021 finally stands at 6.1%, against 5.8% initially published, that of 2022 at 2.5% instead of 1.9%, and that of 2023 at 2.9%, instead of 2.5%.
Consumption is the main driver of the American economy, accounting for more than two-thirds of it.
The first estimate of GDP growth in the third quarter of 2024 will be released on October 30, a few days before the November 5 election.
The two candidates, Republican Donald Trump and Democrat Kamala Harris, are neck and neck in the polls.
