The gross domestic product of the United States of America rose in the second quarter of the current year ending in June in the preliminary reading, according to the report of the Bureau of Economic Analysis issued a while ago, to 6.6%, compared to 6.5% in the previous reading, to come less than expectations that indicated a rise to 6.7%, in contrast.
The gross domestic product price index rose in the preliminary reading to 6.1%, better than expectations that it would rise to 6%.
The increase in GDP growth, which came less than expectations, reflected the continued economic recovery after the process of opening institutions in the second quarter, driven by government aid in the form of loans to companies, so that GDP in dollars rose by 13.2% at an annual rate, or $693.2 billion, to levels of $22.73 trillion.
In a related context, the initial weekly unemployment claims rose in the last week ending on the 21st of August to 353 thousand, an increase of 4 thousand claims, while expectations indicated a rise to 345 thousand.
On the other hand, we followed a few moments ago the statements of US Federal Reserve Chairman James Bullard, who reiterated that he prefers to start reducing asset purchases in the first quarter of next year.
During tomorrow’s session, the markets are awaiting statements by US Federal Reserve Chairman Powell on the sidelines of the Jackson Hole symposium, which has long been used by central bank heads around the world to announce strong shifts in monetary policy.
Therefore, it will be the main driver of the markets in the coming period. The US dollar is trading at the beginning of the American session today, Thursday, the 26th of August (August), with an increase of about 0.12% at levels of 92.92.
07/11/2024
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