key indicators reveal about the health of the US economy
What the key factors reveal about the health of the economy
Gross Domestic Product is one of the key factors this year, the goods produced by labor in the US increased at an annual rate of 2.8 % in 2013 according to the Bureau of Economics Analysis. The next key factor is unemployment. The unemployment for 2013 has decreased a lot since 2009, 2009 had most people who had jobs and then it started decreasing ever since then. The last key factor is Inflation. In September inflation was 1.2% really low compared to 2007 with 4.1%
Expansion or Contraction Phase?
I think the US economy is in the contraction phase because there's a lot of people unemployed. Not being able to find a job, or getting fired. But expansion will happen soon, and people will start to be able to get jobs again.
- the increase in prices of goods and services.
- not having a job.
- it's the total dollar value of all goods and services produced over a specific time period.