The U.S. economy is all set to witness robust growth in 2015. After its great struggle during the Great Recession, one of the biggest economies of the world today, the U.S. is on the verge of a brilliant economic recovery and eventually a boom. However, the forthcoming does not look quite promising for the other economies of the world. The Chinese economy is witnessing a certain economic slump owing to its shift from investment to consumption. Sadly, Japan has already moved into the zone of recession. Russia is most probably heading towards recession. And there is marginal economic growth taking place in Europe.
After going through a period of economic turbulence over the last decade or so, the United States is expected to grow rapidly in the near future. The 5% annual growth rate reported by this economy for the quarter of July to September has been by far the highest since 2003. This swift pace will ease a bit in the near future. In spite of that, the U.S. economy will expand by almost 3.1% in the year 2015. This was reported by the National Association for Business Economics. Interestingly, the 3% rate of growth will be reported for the very first time since 2005.
The global economy is expected to get a significant boost owing to the positive performance exhibited by the U.S. The economic optimism to a marked extent can be attributed to the plunge in oil prices. This led to price cuts by almost fifty percent since summer. In many parts of the country, the prices of gasoline fell to even below US$2 per gallon. The financial situation of the Americans’ has also stabilized to a marked extent. Employment opportunities are also improving. And the economy is witnessing higher investments in areas like software, buildings, and home buildings segment.