The United States registered economic growth of 2.1% in 2022 and the pace of economic activities intensified in the last quarter of the year, according to data presented Thursday by the Commerce Department in Washington, but some analysts still do not rule out the risk of recession.
The value of the US GDP increased by 2.1% in 2022, and in the last quarter of last year the pace of economic activities was 2.9%, according to official data, cited by The Hill publication.
However, economic growth is below expectations of 2.6-2.8%, and the United States continues to face inflation, economic activities also being affected by the increase in the benchmark interest rate. “GDP growth in 2022 primarily reflected the intensification of consumer spending, exports and private investment,” according to a report by the Commerce Department’s Bureau of Analysis.
US GDP had been declining in the first two quarters of 2022, so many analysts feared entering a recession, but economic activities began to pick up in the second half of the year. Also, the inflation rate started to decrease in recent months, reaching the level of 6.5% in December 2022, from the peak of 9.1% in June.
