The US economy grew by 2.6% this winter, breaking analysts' estimates by 2.3% due to reliable consumer and commercial costs.
She also surpassed GDPNow, a real-time tracker controlled by the Federal Reserve Bank. Atlanta, which lowered its estimate to 1.8% earlier this week, largely due to the bleak prospects for retail sales, which was partially affected by the closure.
"Overall, expectations are rather low in the Report, it was a positive surprise that has to strengthen the overall health of the American economy for investors," said Charlie Ripley, senior investment strategist at Alliance Investment Management.
The quarterly GDP release of the Bureau of Economic Analysis (BEA) was postponed for almost one month after a 35-day partial closure of the government, the longest in US history.
"The whole year of growth was spectacular, but the 2019 forecast is expected to be more muted between the dampening global perspectives, the smaller increase in tax cuts and the clouds surrounding Brexit and American-Chinese trade, "said Mark Hamrik, Chief Economist at Bankrate.com
White House officials also applauded this figure. Secretary Wilbur Ross said that GDP, which he saw was enshrined in the law on tax cuts and jobs in 2017, "it's easy to surpass expectations "
" President Trump disagreed with the pace of American growth that the experts thought was impossible, approaching GDP growth of 3% by 2018, "he said in a statement.
In mid-February, US retail sales recorded the largest drop in more than nine decades, raising fears about economic slowdown and falling consumer spending. the end of 2018 According to the Ministry of Commerce, retail sales fell 1.2%, the largest decrease since September 2009, when the US still recovered after the Great Recession.
BEA generally gives three GDP estimates for each quarter; however, they will provide only two readings of this quarter.
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In July-September, the US economy grew by 3.4 percent.