Briefly review the current state of the economy including GDP, inflation, unemployment.

Expert Solution

The US economy represents about 20? of total global output, which is larger than china. After facing a severe recession in 2009, the economy has started to recover slowly yet unevenly with support through expansionary monetary policies. According to bureau of economic analysis US GDP has grew at a 2.3? annual rate in the 2nd quarter, but since the end of great recession in 2009, Q2 has averaged at 2.1? per year only. This increase in real GDP has mainly come from consumer spending, while the inflation rate is 2.4? as published by USA labor department on 11 th April, 2018. But the rate of inflation in 2016 was 2.1?, which shows currently economy is facing a slightly higher price level, while the monthly inflation rate eased from 0.2? to 0.5?. The unemployment rate in USA stood low for consecutive 6 months at 4.1? in last 17 years. All over the economy is facing growth slowly after the recession.

Rahul Sunny answered 2 years ago

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