In the second quarter of 2022, the United States experienced a slight contraction in economic growth relative to the previous quarter despite rising exports, due to stagnant consumption levels and a contraction in investment levels. GDP is 1.71 percent higher than in the same quarter of 2021. The economic recovery, the production bottlenecks of the Chinese manufacturing firms that were forced to stop during the pandemic, and the uncertainty generated by the Russian invasion of Ukraine have contributed to increasing inflation rates, 2.97 relative to the previous quarter and 8.64 relative to the previous year. Unemployment decreased slightly to 3.6 percent. The OECD economic outlook expects inflation to decline sharply in the coming quarters, reaching less than 4 percent in 2023. GDP is expected to grow at an annual rate between 3 and 5 percent, while unemployment is expected to slightly increase, reaching 4 percent towards the end of 2023.

October 2022