Question

How has the U.S. economy been doing in recent years? Why do you think that is? Gather relevant economic statistics, such as the growth rate of real GDP, the unemployment rate, and the inflation rate, to support your case.

Answer 1

The United States is the world's largest national economy in nominal terms and second largest according to purchasing power parity (PPP), representing 22% of nominal global GDP and 17% of gross world product (GWP). Since, we are referring on the recent year’s economy we will more concentrate. According to the Various Economic Indicators like Real GDP , Unemployment Rate and Inflation Rate mentioned in the question , We can Clearly Say that US economy is doing Good , Not too Good and Not BAd too. This can be called Goldilocks Economy. Now , Let us see How ?

The Current Real GDP Growth Rate of US is around 2.3 % annually which is Quite Good as Real GDP growth rate above 2% can be termed as Good.

The Current Unemployment Rate of US is around 3.9% , this is lower than the Past And thus can be considered a healthy indicator. But some Economist say that this low Unemployment rate is because of Decrease in Workforce. If this is the case , then there is Nothing to Feel Good About.

The Current Inflation Rate in US is around 1.9% and also can be considered as stable one because it's not too high and not that low too.

Thus we can conclude from the above data that US Economy is Doing Good , if Not Very Good or Bad.