Do an Internet and/or library search to determine the current state of the U.S. economy and...

Do an Internet and/or library search to determine the current state of the U.S. economy and the household appliance industry. This will be the bases for your summary of possible client audit and fraud risks that will be included in your report below. You need at least three sources of information for the U.S. economy and industry analysis; be sure to cite your sources in your report. You can use the most recent years for your internet search of the U.S. economy and industry. PLEASE INCLUDE REFERENCES.

Expert Solution

ANSWER.

Current State of US Economy

In the midst of economic uncertainty, people on both sides of the political aisle recognize the many ways in which the economy has failed to grow and the potential areas of new growth under the Trump administration. Currently the U.S. has the largest output in the global community, which is expected to grow into in this year. Many Americans are hesitantly hopeful of the appreciation of the American dollar.The US economy is expected to continue growing steadily over the next few years, outpacing many other western countries.An accommodative fiscal stance should lift consumer spending and non-residential investment this year, while an exceedingly tight labor market, strong momentum in the housing sector and upbeat stock prices will continue to buttress economic activity. Economics panelists see growth of 2.6% in 2018, which is up 0.1 percentage points from last month’s estimate. In 2019, growth is seen moderating to 2.1%.

Household Appliance Industry

he home appliance industry includes electrical or mechanical devices used in a household. The industry is worth several hundred billion U.S. dollars annually, with projection to grow in the coming years. Revenue in the Smart Home market amounts to US$18,877m in 2018.Revenue is expected to show an annual growth rate (CAGR 2018-2022) of 14.8 %, resulting in a market volume of US$32,806m in 2022.Household penetration is at 32.0 % in 2018 and is expected to hit 53.1 % by 2022. The average revenue per installed Smart Home currently amounts to US$141.66.A global comparison reveals that most revenue is generated in the United States (US$18,877m in 2018).

Sources of Refernce are

http://www.anythingresearch.com/industry/Household-Appliance-Manufacturing.htm

https://www.statista.com/outlook/279/109/smart-home/united-states

https://www.focus-economics.com/countries/united-states

ekkarill92 answered 1 year ago

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