US economy loses swing: shocking numbers in the fourth quarter

US economy loses swing: shocking numbers in the fourth quarter

The US economy lost driving in the fourth quarter of last year. The gross domestic product (GDP) rose by an annualization compared to the previous quarter. This number was confirmed in a second estimate by the Ministry of Commerce. For comparison: In the third quarter, GDP rose by 3.1 percent. A weak foreign trade braked the US economy in the last quarter of the year. This is particularly evident in the decline of exports of goods that had previously risen in the third quarter. The investments also gave up. Nevertheless, a strong increase in long -lasting consumer goods, including cars, was able to support economic output.

US growth figures are annualized, which means that they are taken into account for the year. In order to get a growth rate comparable to Europe, the US rate would have to be shared by four. According to the Rhein-Zeitung this decline reflects the challenges with which the US economy is confronted.

strong American economy

Despite this short-term setbacks, the US economy remains one of the largest and most technologically advanced in the world. Driven by innovation and a diversified industrial sector, it also shows resilience compared to global trade voltages and domestic debates. The leading sectors are technology, automotive industry and health sector that contribute significantly to economic stability.

Nevertheless, there are challenges that could put a strain on the economy. This includes the modernization of the infrastructure, a shortage of skilled workers in technical professions and the urgently needed reform of health care. With regard to income and living costs, the countries data stated that the average monthly income in the USA is 6,200 euros per capita. In comparison, this in Germany is only 4,223 euros.

economic figures and challenges

Although the prices of daily needs in the United States are around 23.9 percent higher than in Germany, the higher incomes compensate for this price disadvantage, which leads to an approximately 18.4 percent higher purchasing power. In addition, income tax in the United States is low compared to other OECD countries. For a couple with two children, the average income tax is 10.9 percent; The total burden including social security contributions is 18.5 percent. The top tax rate in the United States is 43.7 percent.

In the Global Innovation Index 2024, the United States takes third place with 62.4 points. Over 600 of the 2000 largest listed companies come from the United States, including giants such as Microsoft, Apple, Google, Meta and Tesla. Leading export goods are machines, electronic products and vehicles. In addition, the United States is one of the important suppliers of agricultural products, which is made possible by its geographical and climatic diversity.

The development of im- and exports is also significant. The largest branches include software and digital services, oil, steel, motor vehicles, aerospace, telecommunications, chemicals, electronics, food processing and consumer goods. Such developments are essential for the overall economic assessment and are still being observed closely.