Question

How has the U.S. economy been doing in recent years? Why do you think that is? Gather relevant economic statistics, such as the growth rate of real GDP, the unemployment rate, and the inflation rate, to support your case.

Answer 1

From the past 5 years, i.e from 2015 to 2019, the US growth rate has fallen from 2.9% to 2.3%. A similar case can be seen with unemployment rate which has fallen from 5% to 3.5%. The inflation rate though is on a sharp rise from 0.7% to 2.3 %.

US economy being in developed stages is now quite saturated. This is the reason there is lower growth and rising inflation in the economy. The current Trump government with its high focus on improving unemployment rate in the US has however been successful in reducing the unemployment rate in the country.