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The article by Crutsinger, “American economy not healthy yet, but it’s healing”, discusses the expert opinion of different economic analysts concerning the growth and expansion of the U.S. economy in the year 2011 and the predictable growth…
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Harris Kamran Economics Article Summary 30 January American Economy The article by Crutsinger, “American economy not healthy yet, but it’s healing”, discusses the expert opinion of different economic analysts concerning the growth and expansion of the U.S. economy in the year 2011 and the predictable growth in the year 2012. In light of several facts and figures, the general consensus is that there has been a slight growth in the consumer spending and unemployment rate in the previous year, especially in the last quarter, which is a positive sign for the continued growth in this year as well. However, the growth rate needed for a full recovery of the economy is much larger than the present rate, and so it would take at least a couple of years more for the country to revert to its economic health. The threat of a possible European recession in this year might be a setback to the recovery process. However, the overall scenario seems hopeful, at least to the majority of the analysts.
While it is true that the economic growth rate might still be less than the appropriate rate required for a complete turn back, the GDP is, nevertheless, improving (Crutsinger), and any improvement is better than no improvement at all. The unemployment rate has been cut down, if only by a small fraction (Crutsinger). The process of recovery has started, and it would imperatively take some time to come into full force.
Works Cited
Crutsinger, Martin. “American economy not healthy yet, but it’s healing.” Associated
Press. ABC News, 28 Jan. 2012. Web. 30 Jan. 2012. Read More
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