USA Short-Term and Long-Term Economic Growth

USA Short-Term and Long-Term Economic Growth

Summary of a News Article

According to Kimberly Amadeo (2022), a writer for The Balance, the U.S. economy is doing well. Kimberly employs six facts to give a glimpse of how the U.S. economy is doing. Economists refer to the facts above as the leading economic indicators since they measure the initial influencers on development.

Reports indicate that following increased job losses in 2020, the unemployment rates have decreased from 4.1% in November 2021 to 3.8% in December 2021. According to the gross domestic product (GDP) measurement, the economy grew by 2.4% in the last quarter of 2021 (Amadeo, 2022). In the third quarter of 2021, orders for durable products such as equipment and machinery were -24.5%, while non-durable products such as pharmaceuticals and foods were 2.1%. Although lawmakers are striving to stimulate the demand, interest rates remain at constant record lows. The country had inflation of 7.1% in December 2021 from 6.7% in November. The above is the Consumer Price Index for all products in the past year, prior to seasonal adjustments (Amadeo, 2022). Lastly, the stock market is footing steady, with Nasdaq and S&P lowering in January but generally maintaining growth in the last 12 months.

Reflection

When I started the above discussion assignment, I had little knowledge about economics, our country’s GDP, and how it is derived. However, I have learned some extra knowledge to comprehend how our country’s financial systems function while incorporating my understanding of the impacts of unemployment, stock markets, GDP, durable goods, interest rates, and inflation. In the future, I can apply the knowledge I gained to determine the health of the economy, hence making informed decisions such as when to invest in the business of selling durable goods such as machinery.

References

Amadeo, K. (2022, January 14). How is the U.S. economy doing? The Balance. https://www.thebalance.com/how-is-the-economy-doing-3306046#toc-stock-market

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Go to the internet and find a news article(s) published within the last month that discusses U.S. short-term and long-term economic growth, summarize key points of the article using macroeconomic terminology, and post your response in the Discussions area.

Please note that the goal of this discussion is to read, understand, and discuss recent news using macroeconomic terminology. The article should be from an online newspaper or magazine. Materials posted on educational websites, like www.thebalance.com, www.khanacademy.org, and so on, are not considered news articles even if they were recently updated and contain material related to the discussion topic.

Reflection – The students should also include a paragraph in the initial response in their own words, using macroeconomic terminology, reflecting specifically on what they learned from the assignment and how they think they could apply what they learned in the workplace or everyday life.

You are expected to make your contribution to a main topic as well as respond with value-added comments to at least two of your classmates as well as to your instructor.