US Economy Grows Only 2% in Q2 2019 Amidst Trade War Impact

Dwi Hadya Jayani 27/09/2019 13:00 WIB

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U.S. economic growth slowed to 2% in the second quarter of 2019, down from 3.1% in the previous quarter.

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US Economy Grows Only 2% in Q2 2019 Amidst Trade War Impact

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United States Economic Growth

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U.S. economic growth slowed to 2% in the second quarter of 2019, down from 3.1% in the previous quarter. According to Reuters, this slowdown is attributed to the 15-month-long trade war between China and the U.S. The trade war has weakened exports, manufacturing, agriculture, and investment. Furthermore, it has fueled global financial market concerns and even recessionary threats.

Domestic consumption accounts for nearly 70% of the total U.S. economy. Household consumption has been supported by the strongest labor market in years, resulting in wage increases and very low unemployment. However, investment fell by 1% year-on-year, the steepest decline since the fourth quarter of 2015.

Editor : Hari Widowati

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."