US President Joe Biden noted that the growth performance of the country’s economy is based on the strongest recovery and the lowest inflation among the G7 countries after the pandemic.
In his written statement, Biden evaluated the gross domestic product (GDP) data of the USA for the second quarter of the year.
Noting that the country’s economy has grown and they have reduced costs for families, Biden said that today’s GDP data show that the economy grew by 2.4 percent annually in the second quarter and inflation fell significantly.
Biden pointed out that private sector investment is strong and investments in manufacturing facilities, in line with the “Invest in America” agenda, contribute to growth more than in 40 years.
Underlining that the continued growth of the economy is based on the strongest recovery and the lowest inflation among the G7 countries after the pandemic, Biden emphasized that this progress is not inevitable or accidental.
Noting that the unemployment rate is near record lows, inflation has fallen by two-thirds and real wages are higher than before the pandemic, President Biden said, “My economic plan is working and we’re just getting started.” used the phrase.