Industry in USA

United States Industry | Economic News & Forecasts

USA - Industry

The economy contracted slightly in Q1 according to preliminary data. Declines in federal, state and local government spending were partly to blame, with federal spending dampened by the winding-down of government support programs and lower defense expenditure. Lower private inventory investment and booming imports also weighed on the GDP reading. However, underlying dynamics were more encouraging: A red-hot labor market kept consumer spending growing briskly despite surging inflation and Omicron infections, while fixed investment growth sped up. Turning to the second quarter, GDP is expected to bounce back as the contribution of net trade improves. However, domestic demand is likely easing amid skyrocketing inflation and higher interest rates. Indeed, the S&P Global Composite PMI dipped to a three-month low in April on a softer services sector. Consumer confidence also ticked down in the month.

United States - Industry Data

2015   2016   2017   2018   2019  
Industrial Production (annual variation in %)-1.0  -2.0  2.3  3.9  0.9  

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USA Industry

United States Facts

Value Change Date
Bond Yield1.92-0.43 %Dec 31
Exchange Rate1.120.65 %Dec 31

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