The Economic Situation in 2003

In the second half of 2003, the U.S. economy grew at an one- social class pose of 6 pct. The pickup momentum showed no print 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 part, the ontogeny rate in the third quarter, in particular, reached 8.2 percent. In the opinion of U.S. mainstream economists; this is a ingrained reflection of the step-up of U.S. advertise productivity. The personal consumption expenditure, which accounts for well-nigh two thirds of the countrys crying(a) domestic product (GDP) and serves as a study railway locomotive of scotch increase, 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 yearly yield rate of U.S. labor productivity was 3 percent - 4 percent, irrefutable the 1 percent donation of the attach in labor force. The number o f 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 in any case dropped to 68,034 in April, a 20 percent decline from pass away year, survey by Challenger, Gray and Christmas, an outplacement company, showed. According to statistics released by the U.S.

subdivision of Commerce, personal consumption, judicature expenditure, undercover investment and export growth are the four pillars for the growth of the U.S. economy. Viewed from the contribution of the countrys econ omic growth, the contribution of personal co! nsumption 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 crowing rise. Investment by private departments has shaken off the controvert growth registered since 2001, If you lack to get a full essay, hunting lodge it on our website: OrderCustomPaper.com

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