US GDP grew by only 2% in the third quarter

According to a press release from the Bureau of Economic Analysis of the US Department of Commerce, the US GDP in the third quarter, according to the first estimate, grew by 2% year-on-year. Analysts had expected US GDP growth of 2.7%. At the same time, in annual terms (that is, in relation to the same period of the previous year), the US economy grew by 4.9% last quarter.

The real growth rate of consumer spending in the United States for the reporting period increased by 1.6% after an increase of 12% in the second quarter. 

In the second quarter, US GDP grew by 6.7% year-on-year and by 12.2% compared to the same period of the previous year. 

According to the results of the entire last year, the American economy declined by 3.4%. Such a decline in the world's largest economy has become the most impressive since 1946. Then the indicator fell by 11.6%. In addition, this was the first decline in GDP for the year since 2009 (then the indicator dropped by 2.5%).