There are so many conflicting reports about the growth – or lack thereof – of the US economy. Here we take a look at some of those and try to present them in a way that the reader can come up with their own conclusion.
In Q1 2019, there was a growth of 3.1 percent in the economy. While there has been a slight deceleration in job hiring, jobs have still been added for more than 100 consecutive months. Plus this month we are seeing more expansion than even that of the 1990s boom, making it the longest stretch of time of continuous growth.
According to economist Todd G Buchholz:
“There is a dirty little secret in economics today. The United States has benefited – and continues to benefit – from the global slump.”
Even though there is currently a Brexit-fed-UK crisis; a French yellow-vest-unrest and a Chinese fear of foreign market bombardment, this global turbulence is not impacting America in the way one would imagine.
Indeed, in 2018 when the US economy grew by 2.9 percent it was unrivalled by its European counterpart that pulled in a mere 1.8 percent in economic growth. Buckholz puts some of this down to the “sluggish GDP outside of America…low interest rates and weak inflation…puny looking yields on bank certificates of deposits (CDs).”