A number of factors have contributed to the US economy growing at a faster pace during the second half of 2011 compared to the first six months of the year.  

The US economy has had a turbulent 2011

Increased consumer spending, businesses investing in vital equipment and a comeback from the US auto-production sector all combined to produce a productive summer for an economy which was badly in need of a boost.

However, projected growth of between 2.5% and 3% during the final quarter of the year is expected to be just enough to keep the unemployment rate from rising further.

With 14 million people still out of work, this is not great news.

Mark Zandi, Chief Economist at Moody’s Analytics, echoes this disappointment.

“We are looking at very disappointing growth over the next year. It will be far short of what is needed to get businesses to hire more aggressively.”

Zandi also referenced the current Euro-crisis and how that scenario will affect US policy in the near future.

“How the economy performs next year will depend heavily on what policymakers here and in Europe do in coming weeks,” suggested Zandi.

This comment serves to demonstrate how far-reaching the potential consequences of a full scale European economic crisis could be.

US policymakers will be watching the Brussels conference closely before making their next move.

Transfer Money to the U.S.A

Are you looking to send money to the U.S.A? If so, think carefully about how you will be transferring money to the U.S.A. Foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers.

So if you are looking to send money to USA from UK – which you will inevitably have to do if you are looking to make a property investment – be sure to compare the market before you buy your overseas currency.