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. (Hint: use the information we’ve covered and you’ve researched in the data project about GDP, business cycles, unemployment, and inflation to build your argument).
• Did any of the data from the project surprise you? Which data? Why? Does this data indicate a growing, stagnant or declining economy? What does this data tell you about the health of our economy? Why?

Answer 1

Introduction:-

The United States is clearly seen as the biggest and most advanced nations of the world. So much so that the currency is freely traded across all major countries for their international commerce. The nature of the world economics presently is such, that any recession or inflation in the United States rapidly causes a change in the entire world economics. The 2008 Recession recently is a big example on how influential an economy the United States is; the housing crisis of the United States turned out to be a global event which caused recession across the globe and changed markets respectively..

Case Specifics:-

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.

In the last two years, since Donald Trump came into power, the United States has seen rapid development and great results as an economic power. The country has focussed on increasing its trade and has engaged in rapid development of economic policies to reduce its rising costs of operations. Tax reforms and other similar initiatives such as the United States-Canada & Mexico Trade agreement have largely helped the country in growing at rates that were previously unheard off. The country has also taken action against illegal immigrants and taken measures against countries such as India and China which opposed goods from United States.

The resultant is that United States is on the verge of high economic growth and boom. The economy is growing at a steady rate of 4.2% i.e the annual GDP growth rate. This trend is increasingly seen as a sign of great economic success of the Administration and such numbers were last seen only in 2014 when the entire world was growing at a significantly fast rate.

Other rates such as Unemployment are at 3.7% whereas the inflation rate was as low as 2.7%. All these indicators can be analyzed to draw a similar conclusion that the United States of America is doing extremely good economically.

Did any of the data from the project surprise you? Which data? Why? Does this data indicate a growing, stagnant or declining economy? What does this data tell you about the health of our economy? Why?

The fact that the unemployment rate in the United States is as low as 3.7% which was last seen in the year 1969 when population of the country was significantly lower has really caused surprise to market analysts and me. This increasingly means that a higher percentage of people in the United States find it increasingly possible to find jobs. An inclusive growth thus is indicated in which money does not rest in the hands of large company holders whereas it is equally distributed.

The data indicates that the United States is growing and at the same time, the growth is inclusive in nature since majority of the people are able to find employment opportunities for themselves. The health of the economy is therefore extremely good and data indicates a growing economy respectively.

Please feel free to ask your doubts in the comments section.