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Ib Economics Sl - Internal Assessment

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IB Economics SL - Internal Assessment [Draft 1] Front Cover

EF International Academy New York

Candidate Name Candidate number Teacher Title of the article

Avaneesh Chotalia

T. Barnes Growth Accelerates, but U.S. Has Lots of Ground to Make Up NY Times http://www.nytimes.com/2012/01/28/ business/economy/us-economy-growsat-modest-2-8-percent-rate.html? _r=1&ref=grossdomesticproduct January 27, 2011 January 14, 2012

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Date the article was published Date the commentary was written

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627

Macroeconomics

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Growth Accelerates, but U.S. Has Lots of Ground to Make Up
Scott Eells/Bloomberg News

A welder at a Alstrom Heat Transfer in New York City. If the economy sustains its speed, it could ease the unemployment crisis.
By CATHERINE RAMPELL Published: January 27, 2011

The American economy picked up a little steam last quarter, growing at its fastest pace in a year and a half. Whether it can sustain that momentum is critical to millions of Americans out of work — and perhaps President Obama’s re-election chances.

The New York Times

The nation’s economic output grew at an annualized rate of 2.8 percent in the fourth quarter, the Commerce Department reported Friday, probably putting to rest last summer’s fears that a second recession was imminent. Other reports this week on manufacturing and consumer sentiment offered similar, if mild, encouragement.
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“All in all, it’s not bad, but there’s no oomph,” said Jay Feldman, an economist at Credit Suisse. Forecasts have called for such slow growth that the Federal Reserve on Wednesday said it planned to keep interest rates near zero through 2014. Even with the pickup in output, the pace last quarter was below the average of economic expansions in the United States since World War II.

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