Saturday, December 03, 2011
The US economy seems to have recovered
Retail drives the US economy. Looking at the statistics for retail it has taken three years for the US economy to recover to the levels before the collapse. This does not mean the economy is healthy, it means that the United States driving force has finally recovered, but the population of the United States has continued to grow in this time.
During the same time the US economy has increased by 5 million from 302 to 307 million. This almost 2% rise in population since the bust means that the retail is still below where it needs to be to meet the rise in population.
But the Nominal Gross Domestic Product has increased after a significant drop. So as long as the bankers don't mess up again the economy seems to be in the overall right direction.