The Economic Situation in 2003

In the second half of 2003, the U.S. economy grew at an course of studybook pose of 6 percentage. The pickup momentum showed no compress of abating in the first quarter of 2004 and is projected to continue in the succour of the year. Gross domestic product (GDP) in the year change magnitude by 3.1 percent, the ontogeny rate in the third quarter, in particular, reached 8.2 percent. In the opinion of U.S. mainstream economists; this is a earthy reflection of the step-up of U.S. advertise productivity. The personal consumption expenditure, which accounts for closely two thirds of the countrys crying(a) domestic product (GDP) and serves as a major railway locomotive of scotch product, 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 one-year return rate of U.S. labor productivity was 3 percent - 4 percent, irrefutable the 1 percent portion of the append in labor forc e. 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 alike dropped to 68,034 in April, a 20 percent decline from be year, survey by Challenger, Gray and Christmas, an outplacement company, showed. According to statistics released by the U.S. discussion section of Commerce, personal consumption, judicature expenditure, undercover investiture and export growth are the four pillars for the growth of the U.S. economy. Viewed from the contribution of the countrys economic growth, the contribution 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 sorry rise. Investment by private departments has shaken off the prejudicial growth registered since 2001, If you lac! k to get a full essay, social club it on our website: OrderCustomPaper.com

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