The GDP of the United States has scored noin the second quarter of 2012 a leap forward of +1,5%. Analysts had forecast a slowdown to +1,2%, compared to +2% in the first quarter (data revised upwards from the +1,9% initially disclosed). The data is however preliminary, which will be followed by two subsequent revisions.
The slowdown in the growth of the American economy, although it occurred in smaller proportions than expected, was widely expected. The weakening of consumer spending and that of companies, above all, held back the rise, which occurred at a lower rate than in the previous three months.
Consumer spending – which accounts for 70% of US GDP – rose by only +1,5%, compared to +2,4% in the first quarter. Corporate investments in non-residential structures grew by +5,3%, against +7,5% in the first quarter.
Looking at other components of the figure, government spending fell -1,4%; exports rose +5,3%, while imports +6%. Inflation, measured by the PCE consumer price index fell to 1,6% from 2,4%. Excluding the more volatile components represented by food and energy, inflation recorded +1,8%, compared to +1,9% in the first quarter.
