At last, there is some hope for the US economy as there has been positive growth in the last quarter of 2009. In October to December 2009 quarter, GDP growth was 5.9% compare to the same time of 2008. As a result, there is now perhaps a sense of optimism that economic recession will gradually be removed in 2010. Well, not everything looks very good and solid. Still, the economy is not creating new jobs and as a result many people are unemployed.
High rate of unemployment means that consumer confidence is not strong. USA has a consumer based economy and consumer spending is a very important factor for the health of this economy.
So, there are both hope and frustration for the economy in 2010. On the one hand, things are gradually becoming better and the worst of economic recession is surely behind us. On the other hand, creating jobs is still becoming a major challenge for everyone.
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