The Economy Of The United States

1860 Words Mar 16th, 2016 8 Pages
The economy of the United States is considered to be the largest economy in the world. Despite being hit particularly hard by the financial crisis in 2008, the United States has recovered faster than many of its developed‑world counterparts. In 2015, the Economic Report of the President, an annual report written by the Chair of the Council of Economic Advisers, was estimated the United States’ Gross Domestic Product (GDP) to be $18.7 trillions, with 2.4 percent growth.
Figure 2-1. US GDP Growth (%) Resource: Bloomberg Terminal 2016
Our study for U.S GDP covers the period of time from 2000 until 2015. During this time, the U.S economy has been in several economic recessions, a significant drop in the U.S. stock market, increasing in the national debt, and low Unemployment rate. In addition, household saving dropped by more than $10 trillion during the recession . (Figure 2-1). This trends affected the U.S economy’s productivity, slow the consumers’ spending, and reduced the U.S. export. However, since 2013, the economy growth has been in continues improvement despite the fact that the national debt is in increase. The strong raise of the economy brought so many jobs to the market, increase the consumer spending which positively affect the auto industry.
Many industries have been contributed to the GDP growth, however, the automobile industry was responsible for 3% of America’s GDP . Moreover, the American automotive industry was the largest exporters. In fact, in 2015, the…
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