The United States grew in the second quarter more than planned thanks to consumer spending, according to a third estimate of the Commerce Department reported on Friday (25/9).
The US GDP rose 3.9% annual rate and data corrected for seasonal variations, after an expansion of 0.6% in the first quarter. Analysts had expected an increase of 3.7% as in the second estimate.
Growth in the second quarter reflects a consistent household spending, increased exports, higher business investment and an increase in spending of states and local governments.
Consumers, traditional engine of the US economy, increased their spending by 3.6%, the highest percentage since the last quarter of 2014. Another positive factor is that business investment accelerated and grew 4.1% compared to 3.2% the second estimate, and only 1.6% in the first quarter.
The government will publish on October 29 its first estimate of third quarter growth. That same day the Monetary Policy Committee of the Federal Reserve will meet to decide on raising interest rates. Most economists expect a growth of approximately 2.5% in 2015 after 2.4% last year.
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