The current economic situation

Here you can find an overview of the key US economic figures and a description of the current economic situation.

Exchange rate

Find the current exchange rate here.

The current economic situation

The upturn of the US economy is still progressing at a slower pace than anticipated by most economists and the growth prognosis for 2011 have been adjusted downwards several times during the year. The latest growth rate estimate from FED in 2011 is 2.7-2.9 percent, while the investors ("Blue Chip") currently expect a growth rate of 2.6 percent in 2011.

The slow upturn is explained by temporary factors such as increasing oil prices as well as interruptions and delays in production processes caused by the natural disaster in Japan. Furthermore, the deep imbalances in, among other places, the real estate market are mentioned as factors continuing to have a negative effect on consumer spending and investments.

The political focus in the US is at the moment pointed at the increasing debt and the high unemployment rate. A budget deficit in 2011 close to 10 % of the GNP and a public debt close to 70 % of the GNP implies a great pressure on finding a long term solution for the public economy. While approx. half of the deficit can be attributed to the effects of the financial crisis, the remaining part is estimated to be of a more structural character, including a too small tax basis and unsustainably high health costs.

The US labor market still faces a number of challenges in respect to unemployment. The last months have shown a decent job creation of more than 200,000 new jobs each month. Currently, 8.1% of the Americans are without jobs (April 2012), and about half of them have been unemployed for more than half a year.