Monday, December 14, 2015

The U.S. economy to 2024

The U.S. economy continues to heal in the aftermath of the Great Recession. Steadily recovering consumption, investment, and housing assist an improving economy, whereas structural factors, such as an aging population, limit the prospects for more rapid growth over the coming decade. The Bureau of Labor Statistics (BLS) projects that growth will continue, but at a slower rate than that seen before the onset of the 2007–09 recession.

The United States is now more than 6 years into a recovery characterized by slow growth in gross domestic product (GDP), a declining labor force participation rate, low inflation, and disappointing productivity gains. From 2010 to 2014, GDP growth averaged just 2.1 percent annually, a much slower rate than the 3.0-percent or higher annual growth experienced in recent decades.

More from Bureau of Labor Statistics.

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