Find the most recent economic growth rate or real GDP figure

Find the most recent economic growth rate (or real GDP) figure for the U.S. economy at the www.bea.gov w website. what do you think is the primary reason for this current level of economic growth or contraction. explain your answer

Solution

As per BEA data, US real GDP growth rate is 1.5% in 2015 Q3 (latest available data), down from 3.9% in 2015 Q2.

Even on a year-to-year basis, real growth rate was 4.3% in 2014 Q4.

In my belief, this contraction in real GDP is primarily a result of loss in consumer confidence and uncertainty over the economic outlook. The European crisis has been going on and steepening since last one year, which is having its contagious effect on the US economy too.