U.s. economy grows at its best pace in two years – The Nation Costa Rica

last Updated October 28, 2016 at 11:21 am

Washington,

The u.s. economy grew 2.9% in the quarter July-September, your best pace in two years thanks to the export sector recovered and the stores returned finally to replenish their inventories.

The gross domestic product (GDP) in the third quarter, the broadest measure of the economy, was more than double the 1.4 per cent registered in the second period, reported Friday by the Commerce Department.

The growth of the GDP is aletargó considerably at the end of last year. Exports were affected by the rise in the dollar, which encarecía their products abroad, and the stores have reduced the replenishment of their inventories to the decline in sales.

Now that the dollar has stabilized, exports picked up again in the summer and the shops are reabastecieron of products. They anticipated a strong growth for this period.

The new amount of growth is even higher than the 2.5% that many analysts had anticipated, and this is one of the last economic reports that will broadcast the government before the November 8 election.

The republican candidate Donald Trump has said that the GDP is decreasing and that shows that the policies of the democrats do not work.

Even with the acceleration in the third quarter, economists say that the growth for the entire year will be just 1.6 per cent due to the weakness of the figure at the beginning of the year. For all the 2015 the growth was 2.6%.

This recovery from the severe financial crisis of 2007-2009 has been the slowest since the Second World War, and, on average, economic growth has been just 2.1% per year in the last seven years.

But the growth in the third quarter is the best from the 5% seen in the same period of 2014. In the last three months of last year, the growth was 0.9%, followed by 0.8% in the first quarter of this year and 1.4% in the second.

The economists anticipate that the growth will remain robust between October and December, but maybe a little less, about 2%.

In the third quarter, a large part of the improvement is due to the increase in exports, which climbed 10%, a rate not seen since the end of 2013. Another 0.8 per cent was contributed by the decrease in the trade deficit.