SUMMARY:
This article is about economic growth in the U.S, which has not met the expectations. The recession has hit the U.S very hard and now is recovering from it. Economists have been predicting a better growth for the U.S economy but the stats have shown us that the economic growth is not meeting the expectation. Gross domestic product growth was down to an annual rate of 2.8%.The report show that Federal Reserve’s are concerned that the pace of growth remained too slow to significantly lower a 9.0% unemployment rate. Also consumer spending which is more than two-thirds of U.S. economic activity has grown 4.1% in the final three months of 2010 instead of 4.4%. It was still the fastest since the first three months of 2006. But there are concerns that surging crude oil prices could hurt consumer spending and slow the economy’s recovery.
CONNECTION:
The economic growth of U.S has been improving a little bit but the recession had a huge effect. This topic is a very big deal because the U.S is a has a very big and strong economy with helps other countries like Canada and Mexico. With the economic growth not meeting expectations, it also will affect other countries. Though this article does not personally affect me it still affects my country and my countries economy. As a consumer I have been buying less due to the recession and so have many other people. With the increase in crude oil more people will cut their spending.
REFLECTION:
The economy of the U.S must be strong, because it is the world’s most powerful economy. Though Canada’s economy is not suffering as bad at the U.S we still had our ups and downs. The stats showed us that U.S still needs sometime to grow and become the economy before the recession. Though it is going to be hard because crude oil products are increasing and consumer spending is decreasing. The unemployment rates cannot go down either because the stats are not meeting expectations and more jobs are not becoming available. Therefore the rates are going to drop and not meet the economist predictions.
