Half speed ahead

Article Abstract:

The performance of the US economy was predicted to be stronger in the second half of 1995 despite the fact that gross domestic product grew by just 0.5% in the second quarter. The weakness of the economy was attributed to a slow down in the growth of inventories, homebuilding and government spending. Positive growth was registered in consumer spending, business investment and imports/exports. Another positive indicator is that the unemployment rate has stabilized at 5.7%. The effects of fiscal policy and the monetary policy of the Federal Reserve on the economy were also discussed.

United States economic conditions

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Betting on consumers

Article Abstract:

Consumers continue to shore up the domestic economy even as inventories, trade, and government spending experienced slowdowns. Consumer spending registered a 5.8% increase in real annual rate during the second quarter of 1998. The figure makes up more than 68% of the total gross domestic product. Consumers also provided the momentum for the current housing boom which yielded an average of 1.57 million-unit housing starts for the first half of 1998. Meanwhile, second quarter GDP increased by a measly 1.4% although this is better than earlier negative industry projections.

Economics, Research and Development in the Social Sciences and Humanities, Gross Domestic Product, Gross Domestic Investment, Economic aspects, Consumer behavior

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