US economy fundamentals deal with different factors that regulate the performance of country’s economy. Creation of a knowledge-based economy has been one of the major points for the federal government of the United States. The fundamentals of US economy put stress on efficient utilization of the existing resources to ensure sustained economic development. Efforts are also on to develop new skill set to keep pace with the ever-changing global economic scenario.
The natural resources assume huge importance in the context of the US economy fundamentals. The abundant supply of natural resources like coal, natural gas, petroleum, uranium, lead, copper, silver, zinc, phosphates, and many more play a crucial role in strengthening the base of the US economy.
US economy offers diverse source of employment for its huge labor force. A significant portion of skilled labor force in the United States is employed in the technical, managerial, and other professional jobs. Apart from this, other sectors of the US economy are manufacturing, extraction industries, transportation, and sales.
Globalization has brought about a number of favorable changes in US economy. As an aftermath of globalization, the developed and developing nations across the world have followed trade liberalization policy. The volume of international trade for US economy has recorded substantial increase over the last few decades. The increased cross border trade has also been helped by different bilateral trade agreements signed between US and other nations worldwide.
Economic and financial policies of the federal government in United States are crucial as far as US economy fundamentals are concerned. The US economic policies provide ample growth opportunities for business sector of the country.
Favorable changes in fundamentals of the US economy ensure long-term growth and prosperity.
This is an eventful week, but the economic calendar starts slowly. The FOMC meeting, first look at Q1 US GDP and the US jobs report, are the highlights. The capital markets are also off to a slow start. The US dollar is narrowly mixed. Against most of the major currencies, the greenback has been confined to about a 15 tick range.
Eric J. Gleacher Distinguished Service Professor of Finance at the Booth School of Business at the University of Chicago. IMF’s Chief Economist from September 2003 to January 2007. Inaugural recipient of the Fischer Black Prize.
Professor of Economics & Director of the Earth Institute at Columbia University. Special Adviser to the UN Secretary-General on the Millennium Development Goals. Founder & co-President of the Millennium Promise Alliance.