US monthly GDP for June 2022 rises by 0.2%: S&P Global

05 Aug '22

1 min read

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The gross domestic product (GDP) of the US increased by 0.2 per cent in June 2022 after declines were observed in five of the seven previous months, says financial information services provider S&P Global. The GDP rise in June was because of positive contributions due to net exports and personal consumption expenditures and a substantial negative contribution from residential investment.

S&P’s index of monthly US GDP (MGDP) is a monthly marker of real aggregate output that is conceptually consistent with real GDP in the National Income and Product Accounts, according to S&P Global Market Intelligence.

US’ GDP in June was 0.5 per cent more than the second-quarter average at a yearly rate, as per a recent report by Ben Herzon, executive director, research advisory specialty solutions, S&P Global Market Intelligence and William Magee, economist, economics & country risk, S&P Global Market Intelligence. S&P’s latest prediction implies that a 0.6 per cent yearly US GDP growth in the third quarter is generally a flat trend in monthly US GDP over the months of July, August, and September. Moreover, US’ GDP for May 2022 was adjusted by a higher 0.1 percentage point.

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