Fiscal stimulus and more vaccinations lifted the U.S. economy above the pre-health crisis level
The pace of GDP growth reported by the Commerce Department on Thursday was, however, slower than economists had expected. That was because businesses ran down inventories further to meet the robust demand. Supply constraints, which have caused shortages of goods such as motor vehicles and household appliances, are making it harder for business to replenish stocks.
"The economy has achieved escape velocity from which there is no going back," said Chris Rupkey, chief economist at FWDBONDS in New York. The National Bureau of Economic Research, the arbiter of U.S. recessions, declared last week that the pandemic downturn, which started in February 2020, ended in April 2020.
Guests enjoy outdoor dining in the Manhattan borough of New York City, U.S., May 23, 2021. REUTERS/Caitlin Ochs Consumer spending, which accounts for more than two-thirds of the U.S. economy, grew at an 11.8% rate in the second quarter after rising at an 11.4% pace in the prior period.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Puma Raises Guidance as Q2 Revenues Leap 95.8%Puma has returned to the trajectory it was on before the COVID-19 pandemic hit.
Leer más »
US economy surpasses pre-pandemic size with 6.5% Q2 growthFueled by vaccinations and government aid, the U.S. economy grew at a solid 6.5% annual rate last quarter in the clearest sign to date that the nation has achieved a sustained recovery from the pandemic recession
Leer más »
Study: EU electricity demand rebounds without more emissionsAn energy think tank says electricity demand in the European Union has returned to pre-pandemic levels without a corresponding rise in emissions
Leer más »
Disneyland and Disney World to Again Require Masks for All IndoorsThe Disneyland Resort and Walt Disney World are pumping the brakes on lifting pandemic restrictions, once again requiring all staff and guests to wear masks indoors — regardless of vaccination stat…
Leer más »
The U.S. grew at a 6.5% pace in the spring, GDP shows, as economy rallied from CovidThe U.S. grew at a blistering pace in the spring and repaired much of the damage caused by the pandemic thanks to widespread coronavirus vaccinations and a...
Leer más »
McDonald’s Sales Surpass Pre-Pandemic LevelsThe burger giant said price increases, larger to-go orders and new crispy chicken sandwiches helped boost U.S. sales.
Leer más »