U.S. Economic Outlook

Now, let’s take a closer look of U.S economic status.

 

Recent data suggest that the U.S. economy was somewhat more resilient at the beginning of the year, although performance was uneven. According to a second estimate, GDP increased at a seasonally adjusted annualized rate of 0.8% in Q1 (previously reported: +0.5% SAAR). The result, which was below the 1.4% expansion observed in Q4, showed a deterioration in investment and exports, while private consumption—the main engine of the economy—continued to grow, although at a slower clip. Consumer spending is likely to have remained buoyant at the outset of Q2 as retail sales surged in April. Meanwhile, the April jobs report grabbed the headlines, with payrolls growing less than expected and unemployment staying steady at 5.0%.

United States Economy Data

2011 2012 2013 2014 2015
Population (million) 312 314 317 319 321
GDP per capita (USD) 49,725 51,384 52,608 54,375 55,868
GDP (USD bn) 15,518 16,155 16,663 17,348 17,947
Economic Growth (GDP, annual variation in %) 1.6 2.2 1.5 2.4 2.4
Domestic Demand (annual variation in %) 1.6 2.1 1.3 2.5 3.0
Consumption (annual variation in %) 2.3 1.5 1.7 2.7 3.1
Investment (annual variation in %) 6.4 9.8 4.2 5.3 4.0
Exports (G&S, annual variation in %) 6.9 3.4 2.8 3.4 1.1
Imports (G&S, annual variation in %) 5.5 2.2 1.1 3.8 4.9
Industrial Production (annual variation in %) 2.9 2.8 1.9 2.9 0.3
Retail Sales (annual variation in %) 7.3 5.0 3.7 3.9 2.2
Unemployment Rate 8.9 8.1 7.4 6.2 5.3
Fiscal Balance (% of GDP) -8.4 -6.7 -4.1 -2.8 -2.4
Public Debt (% of GDP) 98.3 102 104 105 106
Money (annual variation in %) 7.4 8.6 6.8 6.2 5.9
Inflation Rate (CPI, annual variation in %, eop) 3.1 1.8 1.5 0.7 0.7
Inflation Rate (CPI, annual variation in %) 3.1 2.1 1.5 1.6 0.1
Inflation (PPI, annual variation in %) 3.9 1.8 1.4 1.6 -0.9
Policy Interest Rate (%) 0.25 0.25 0.25 0.25 0.50
Stock Market (annual variation in %) 5.5 7.3 26.5 7.5 -2.2
Current Account (% of GDP) -3.0 -2.8 -2.3 -2.2 -2.7
Current Account Balance (USD bn) -460.4 -449.7 -376.8 -389.5 -484.1
Trade Balance (USD billion) -740.7 -741.2 -702.6 -741.5 -759.3

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United States Economy Overview

Economic Overview of the United States

Despite facing challenges at the domestic level along with a rapidly transforming global landscape, the U.S. economy is still the largest and most important in the world. The U.S. economy represents about 20% of total global output, and is still larger than that of China. Moreover, according to the IMF, the U.S. has the sixth highest per capita GDP (PPP), surpassed only by small countries such as Norway and Singapore. The U.S. economy features a highly-developed and technologically-advanced services sector, which accounts for about 80% of its output. The U.S. economy is dominated by services-oriented companies in areas such as technology, financial services, healthcare and retail. Large U.S. corporations also play a major role on the global stage, with more than a fifth of companies on the Fortune Global 500 coming from the United States.

Even though the services sector is the main engine of the economy, the U.S. also has an important manufacturing base, which represents roughly 15% of output. The U.S. is the second largest manufacturer in the world and a leader …

Read more: http://www.focus-economics.com/countries/united-states

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