Overview of the Current Economic Situation (US) Finance, SPSS Essay (Essay Sample)

The Current U.S. Economic Situation
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The Current U.S. Economic Situation
Worldwide, different countries develop at varying rates depending on their investment patterns. The problems they face depending on their geographical segmentation and resources, among other factors, play a significant role in the progress of development. However, it is the economy of a country that gives it the strength it requires to compete with the rest. Currently, the United States’ economy has enabled it to become a global powerhouse: the U.S. primarily depends on the service industry and manufacturing alongside trade, but it needs to address the challenge of trade deficits to maintain steady growth.
As countries continue competing in the global market, it has become a challenge to outdo the U.S. due to its strong economic performance. As an economic powerhouse, Sawe (2017) suggests that the U.S. prides in having the largest nominal gross domestic product (GDP) at $18.46 trillion. This figure is equivalent to almost a quarter of the global share with the manufacturing and service sector being among the leading economic drivers. A close observation of its performance depicts that the U.S. has done a lot to support its internal and external growth. If it continues this way, it will become highly challenging for other countries to match or outdo the U.S. economic performance.