Slowdown abroad: Impact on U.S.?
U-T EconoMeter panel looks at trends in Europe, Asia, South America
Roger Showley, U-T SAN DIEGO
Friday, August 22, 2014
Kelly Cunningham, National University System
America finds both its economic and diplomatic influence waning in the world. The U.S. economy was once big enough to pull global economic activity along, but those days no longer exist. The U.S. depends upon the rest of the world to prop up the dollar and sustain economic activity, and clearly is no longer capable of carrying on alone. The combined U.S. GDP first quarter stumble and advanced estimate of growth in the second quarter signals weakening activity so far in 2014 and raises concerns that the U.S. economy is struggling to achieve sub-2 percent annual growth.