The United States (U.S.) economic in 2010 grew the fastest over the past five recent years. According U.S. Department of Commerce, economic expansion was triggered state condition which is recovering from recession and fears of a double-dip recession that decreases.
Over the past year, the U.S. economy grew 2.9 percent, better than the 2009 that only 2.6 percent. Meanwhile, quarterly, the U.S. economy period September-December 2010 grew 3.2 percent over the same period of 2009.
U.S. economic expansion in the last three months of last year fueled consumer spending rising by 4.4% . Meanwhile exports rose 8.5 percent. Other factors that support U.S. growth is the property sector which grew a surprisingly strong 3.4 percent as consumer demand to build new homes.
Economic adviser to U.S. President Barack Obama : Austan Goolsbee said data gross domestic product (GDP) as a sign that the economy continues to gain momentum, after recovering from its worst recession since the Great Depression in the 1930s. “We were on the right path, but still much work to be done to accelerate growth so that we create the jobs we need,” he said as quoted by AFP.
However, the prospect of spending, income, and exports from the United States does not necessarily make the expectations of economists raise Uncle Sam’s economic projections. This is because the problem of unemployment is still high but eased to 9.4 percent in December.
“The main concern is the growth potential is too weak to stimulate the increase in job creation to reduce unemployment itself, but at least the GDP data are now taking steps in the right direction,” says Markit chief economist Chris Williamson.
Another analyst, Brian Jones, from Societe Generale said this year base needed for growth is to create a healthy economy with welfare. White House itself said the government would continue to try and encourage a mix it. According to Goolsbee, the government will focus on helping investment, increase employment opportunities, including investing in education and infrastructure. “We also want to promote exports to other countries,” said Goolsbee.