The latest figures for the US economy are quite reassuring despite the fact that inflation remains very high.
The GDP picked up in the third quarter, up to +2.6% (in annual variation) after two quarters of contraction. The growth is +0.6% if we simply compare with the previous quarter, the same as other advanced economies such as France.
US President Joe Biden praised the “driving force” of the US economy.
“For months, doomsayers have argued that the US economy is in a recession and congressional Republicans expect a decline. But today we have new evidence that the economic recovery remains a driving force,” Joe Biden said in a White House statement. .
1.4 million recipients of unemployment benefits
For its part, jobless claims increased slightly during the week to October 22, to 217,000 compared to 214,000 the previous week, the Labor Department announced Thursday. This is slightly better than the consensus of 220,000.
The four-week moving average (which better illustrates the labor market variation) stands at 219,000 compared to 212,250 in the previous week.
The number of regular benefit recipients rose to 1.438 million for the week ending October 15 (the latest week for which these figures are available) from 1.383 million (revised) in the previous week.
Source: BFM TV
