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Wednesday, December 24th, 2014

How a resurgent US economy compares with weaker growth around the world

Author:    
Source:     The Associated Press
Publication Date:     December 23, 2014 - 2:00 PM
 Link: How a resurgent US economy compares with weaker growth around the world
Stephan:   Although it has not yet reflected in the lives of many formerly in the middle class, the data will not be denied.  Policy mistakes included -- lack of accountability being one example -- the Obama Administration has produced superior policies when compared to Republican economic policies. And it has done so in a world that is generally experiencing economic stress, as this report described.  
U.S. Factory Credit: Bloomberg

U.S. Factory
Credit: Bloomberg

WASHINGTON — While the U.S. economy grew from July through September at the fastest pace in more than a decade, most other major economies have been struggling.

Europe is straining just to grow. So is Brazil. Japan has slid into recession. China is trying to manage a slowdown. Russia foresees a recession next year.

Meanwhile, the U.S. economy accelerated at a robust 5 percent annual rate last quarter.

“The U.S. is easily top of the charts in the developed world and frankly not half-bad by (faster) emerging-market standards,” said Eric Lascelles, chief economist for RBC Global Asset Management.

The United States has benefited from aggressive easy-money policies by the Federal Reserve, a banking system that rebounded from the 2008 financial crisis, solid consumer spending in areas like autos and a roaring stock market that has left many Americans feeling wealthier and more willing to spend.

Here’s how other major economies stack up with the United States. The figures, compiled by RBC Global Asset Management, show third-quarter growth at an annual rate:

— EUROZONE

Up 0.6 percent. The economy of the 18 countries that […]

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1 Comment

  1. Rev. Dean on Wednesday, December 24, 2014 at 11:14 am

    Thank you Stephan for trying to find a positive article for this holiday season. I know it must have been difficult, so I will not comment on what this report does not say about the lower classes. We’re trying very hard to stay positive, and it is not easy.