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Complete 3 pages APA formatted article: Project Report 3. It began in December 2007 and lasted 18 months which was the longest recession since World War 2. By observing the U.S Gross Domestic Producti
Complete 3 pages APA formatted article: Project Report 3. It began in December 2007 and lasted 18 months which was the longest recession since World War 2. By observing the U.S Gross Domestic Production (GDP) and the employment data, we can conclude that the current state of the U.S economy is recovering from the recession. The GDP is an important variable because GDP represents the total dollar value of all goods and services which being produced in the period time. The GDP is also related to the real income, employment and industry production. These reasons are why GDP is an important indicator to a country’s economy state. By looking at the Quarter-to-Quarter growth in real GDP graph (Bureau of Economic Analysis) the GDP in the last two quarters of 2008 and the first two quarters of 2009 are negative. Especially the last quarter in 2008, the GDP is down by 9% which means the economy of U.S had dropped 9% in the over the last quarter of 2008. However, from the third quarter of 2009 the GDP had grown back to positive and it stayed positive from 2010 to 2012. By using the previous data we can conclude that the recession is over and the U.S economy is recovering now. The other important variable is the employment data.
