Question

It has been seven years since the official end of that severe economic downturn. What is the near future of the US economy? Do you see a robust, strong growth or another recession in the near future?

Answer 1

• US economy was hard hit by the economic recession in 2008. It resulted into the mass fall in output and employment opportunities. Government spending increased and taxes were reduced to spur more demand in economy.
• But government is already reducing its spending and growth rate of US economy is around 3% while unemployment rate is approximate to 4.3 %.
• Overall indicators suggest that US economy is moving towards the high economic growth.
• In the face of falling government expenditure, Growth may not rise substantially in near future. But it is projected that there are scant chances of any near future recession. US economy would continue to grow at moderate rate.