U.S. Economy, on Slow-Growth Mode

Economy Nilgun Salim
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Most influential American CEO’s believe the U.S. economy is the largest in the world but the upcoming presidential election is not going to change its slow ascension, writes the Wall Street Journal.

According to their most recent research, billionaires and CEO’s of America’s largest companies did not change their economic prospect from last year.

The elections are the main reason behind their reluctance to increase the capital investment or hiring more people, says CEO of Caterpillar Doug Oberhelman.

In addition, investors estimate that the American economy will not accelerate its pace in the second quarter of the year, expecting a slight slowdown instead.

Their predictions regarding sales are even worse. Although they expect some good numbers in the next two-quarters, business leaders expect the U.S. economy to grow by 2,2 % over the upcoming year.

Following a 2012 report, initiated by the Economic Cooperation and Development Organization suggested that India will surpass the U.S. economy. The study showed that a global growth of 3% per year by 2060 will highlight significant differences between the emerging market economy and other developed countries.

Great powers, like Japan and countries from the Euro area, will lose ground to countries with a younger population like Indonesia or Brazil.

In Europe, France will grow by 2% between 2017 and 2030 and drop to 1.4% between 2030 and 2060. According to the report, France’s economic results would exceed in comparison to Germany that will be 1.3% between 2017 and 2030 and 1% between 2030 and 2060.