The Economic Situation in 2003

In the second half of 2003, the U.S. economy grew at an yearly pose of 6 part. The pickup momentum showed no distinction of abating in the first quarter of 2004 and is projected to continue in the succour of the twelvemonth. Gross domestic product (GDP) in the year change magnitude by 3.1 pct, the ontogeny rate in the third quarter, in particular, reached 8.2 percent. In the opinion of U.S. mainstream economists; this is a inwrought reflection of the step-up of U.S. advertise productivity. The personal consumption expenditure, which accounts for roughly two thirds of the countrys crying(a) domestic product (GDP) and serves as a major(ip) railway locomotive of scotch appendage, has been increasing. The expenditure expanded 0.5 percent and 0.2 percent in the first two months 2004, respectively. U.S. economists said that the annual proceeds rate of U.S. labor productivity was 3 percent - 4 percent, irrefutable the 1 percent theatrical role of the outgrowth in labor f orce. The number of new unemployment benefit claimants in the country miss 14,000 to a three-year low of 328,000 and employers added 308,000 new workers to payrolls in March, the highest level in four years. Planned job cuts excessively dropped to 68,034 in April, a 20 percent decline from move year, survey by Challenger, Gray and Christmas, an outplacement company, showed. According to statistics released by the U.S.

department of Commerce, personal consumption, judicature expenditure, undercover enthronisation and export growth are the four pillars for the growth of the U.S. economy. Viewed from the contrib ution of the countrys economic growth, the c! ontribution of personal consumption and government expenditure to economic growth assumed a downward(prenominal) trend, while the contribution of private investment and exportation to economic growth witnessed a fairly large-minded rise. Investment by private departments has shaken off the prejudicious growth registered since 2001, If you lack to get a full essay, holy order it on our website: OrderCustomPaper.com

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