Essay: The U.S. Economic Outlook in 2011
Date January 1, 2011 the article takes on a close analysis of the economic progress of the nation. The expectation was that the growth will be at 3.5% with increased budget deficit. This is compared to a growth of 3% in 2010 with unemployment almost at 10%.
The expectation of analysts is that economic growth this will be 3.5% to 4% in 2011. This growth will be realized from consumer spending and business spending and will be coupled by an increase in personal consumption expenditure at 0.7%. This forecast follows the performance of last year where the growth was at 3%. The expectation is that this will also translate to a drop to 9% in unemployment rates. This was also supported by the reduced unemployment claims towards the end of the year.
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