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## THE US MACRO ECONOMY The US economy is in a generally weak condition at mid-year 2001. Virtually all manufacturing-intensive regions are in recession. The share of the labour force filing new unemployment claims is running just below the levels attained in the 1991 recession. Corporate profits have declined substantially in the past four quarters. Corporate profits in the USA grew at an average rate of 7.4 per cent since the 1991 recession. During the past four quarters they have declined by 3.7 per cent. With the exception of the petroleum, chemicals and fabricated metals industries, all manufacturing sectors have seen profitability declines. Retail trade is continuing to eke out meagre gains, while the financial sector profits grew by nearly 8 per cent in the past year. As the US expansion crawls weakly into its tenth year, the inevitability of job losses and inventory build-ups in the face of any slowdown in consumption or economic growth can be seen. The past ten years have seen astounding increases in productivity compared to any previous expansion. New technologies have combined with new business models to unleash powerful forces in the world's economies. However, technolo

Who reads The US economy: a mid-year review and outlook?

Author

Marc Louargand

Publisher

Wiley (John Wiley & Sons); Wiley (ISSN 1473-1894)

Published

2001

Language

EN

Field

Economics, Econometrics and Finance (Social Sciences)