How Trump’s ‘Pivot’ Will Impact the Economy
- by admin
The U.S. economy is now more competitive than ever.
According to a new report from McKinsey & Co., the United States now has the strongest, and fastest, recovery in more than 50 years, with growth of more than 7 percent over the past year.
The report notes that this is the fastest economic expansion since the Great Depression.
In addition, the report shows that the U.M. economy expanded by 2.5 percent in the first quarter, and by 2 percent in Q2, and that growth was 2.8 percent in 2015.
Meanwhile, the number of jobs lost has more than halved since the recession ended.
According the report, the economy added 1.2 million jobs in the second quarter, a record low.
This means that the economy has created 1.8 million jobs over the last 12 months, the highest level since the Second World War.
McKinsey estimates that the recovery is set to continue to accelerate as it picks up momentum over the next few years.
President Donald Trump has promised to increase investment in the U, and his administration is taking steps to help the economy, such as creating more jobs for those who lost their jobs.
But with the economy in a recession, there’s a chance that the administration will slow down the pace of spending, and perhaps even lower the government’s budget deficit.
One of the biggest reasons for this slowdown is the lack of interest in government spending, according to the McKinsey report.
“With the economy still recovering from the economic downturn, the potential for an increase in government deficit spending is significant.
In addition, this slowdown could also slow the rate of return on investments, with the potential to further increase debt,” the report said.
However, if the Trump administration does slow down spending, it will still lead to higher inflation and potentially a spike in prices, according McKinsey.
For more, watch the video below.
Also read: Trump administration’s plan to boost investment in infrastructure is a bad deal for workers and consumers
The U.S. economy is now more competitive than ever.According to a new report from McKinsey & Co., the United States…
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