Question

how has the u.s economy been doing in the recent years? why do you think that is? gather relevant economic statistics, such as the growth rate of real gdp, thr unemployment rate, and the inflation rate, to support your case.

2019

Answer 1

America prospered greatly lately. Now there were many reasons of America’s economic prosperity.

Now coming to the pointers, the one significant factor was the increase in defense services of America due to which, the country was able to grow exactly. The automobile industry was another factor responsible, the demand of automobile industry increased hugely. Hence the supply had to be increased. It almost increased by 3-4 times than before and this was a significant reason for the economic prosperity of America that happened.

Also, a housing boom that happened was the one factor responsible for growth and equality which was on the go in the country. Everybody could almost afford a house.

The major corporations in America grew even larger. There were various mergers that happened. Many companies were established on the domestic land as well as on the international lands because of which there were a large number of profits that were being experienced by America. Due to this, employment increased.

The personal income of US citizens was also increased at that time by the US government because the government wanted to make their citizens increase their consumption. It was indeed needed for the growth that had to be achieved in the national income and GDP of the country. This factor is what; every country’s government is most concerned about. The latest GDP rate recorded was 3.10% in april 2019.