USA economy is the largest national economy of the world since 1890 and second largest in the world. The supposed GDP was guessed about $15 trillion in 2011 which is normally one fourth of the global GDP. USA is one of the richest nations in the world with a GDP of about &48.45 which is the 6th highest in the world. It is considered the largest trading nation with its four partners namely; Mexico, China, Canada and Japan. Moreover a large number of popular brands like Google, Microsoft, IBM, Apple Inc, McDonald’s and AT & T are contributing a lot to the economy of the country.
The economy of United States is mixed with stable growth rate of GDP, high level of research, reasonable employment rate and capital investment. In 2012 USA is considered the largest manufacturer in the world and headquarters of 133 companies are in the country. This number of headquarters is nearly double then the total of any country in the world. People from all over the world love to migrate to USA due to the attractive salary packages.
USA economy is one of the top performing economies in the world. It is considered first in the index of IT industry at global level. It is one of the most influential financial countries in the world. When we talk about the capitalization and investments then New York Stock market is the largest stock exchange of the world. The investment is nearly $2.4 trillion which is twice nearly any other country in the world. Total debt is about $50.2 trillion at the end of 2010 whether it is private or public. According to a survey in 2010 European Union is the main partner in trade with United States while Mexico, Canada and china are the largest trading nations.
USA economy is reviewed in detail by many institutions of the country to have a clear idea and proper planning for the future of the country. Although the country has seen downfalls and recessions but the strategies of the government are worth praising that they stabilize the economy of the country. In 1973 the high rates of inflation and unemployment created many problems for the economy of the country. During a period from 1946 to 1973 the economy of USA grew by 3.8% and felt a slow growth in 1973. A severe recession was observed from 2008 to spring 2009 which took the country toward financial crisis and the GDP fell down up to 5%. There was a stage in 1970 and 1980 that the economy of Japan would become stronger as compare to USA but it did not happen.
In 1970, manufacturers move to countries where they can meet their manufacturing costs due to cheap labor and shipping charges. Moreover some countries started to produce same products which were previously produced in USA only so it also became a reason of slow USA economy growth. In 1994 some major changes were brought to make betterment’s in the field of business. The ratio of public debt was different in different years but it is tried to improve the condition. In 2010 the total budget is supposed to grow nearly 100%
USA economy is improving by taking different projects into action in mineral and agriculture. During the start USA observe a steady growth in its labor force which shows a steady economic expansion of the country.