What is the current GDP growth rate? Also, examine the trend of GDP growth over the past few years.

What is the current GDP growth rate? Also, examine the trend of GDP growth over the past few years. What stage of the business cycle is the U.S. economy currently in given the trend of GDP growth?

Expert Solution

GDP growth rate is the rate which shows the gross domestic product rates prevailing in a country during a particular time period. The current GDP growth rate of UNITED STATES is around 3.2% in the first quarter of 2019.

Even in the past, the GDP has shown spectacular results in US. United States has the largest GDP growth single handedly over the globe. The GDP growth rate was 2.2% in the last quarter of 2018.

The trade has been increasing day by day. This definitely causes the growth rate to increase by a considerate amount. The GDP rates were pretty good till 2008 when the financial crises occurred. GDP rates fell to -0.1% in 2008 from 1.9% in 2007 and 2.9% in 2006. This had a bad impact till 2009. But Since then, the growth has been immense and growing and fluctuating to a little extent.

Given the trends, the US economy is in the expansion stage of business cycle. It has been like that from around 8-9 years now.

Rahul Sunny answered 2 years ago

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