Why US economy is powering ahead of Europe's - BBC News

A fast-growing economy, low jobless numbers and falling inflation - how the US outpaced competitors.

13 hours agoShareclose panelShare pageCopy linkAbout sharingImage source, Getty ImagesBy Erin DelmoreNew York business correspondentWhile countries around the world have struggled to recover from the economic setbacks brought on by the pandemic, one has emerged particularly strong.

With a fast-growing economy, a strong labour market and falling inflation, the US has outpaced its counterparts in Europe and elsewhere.

In terms of GDP, it posted a 3.3% gain in the fourth quarter of 2023, far exceeding economists' expectations of 2%.

That put the US at 2.5% over the course of the year, outpacing all other advanced economies and on track to do so again in 2024.

"The US is holding up much better than other countries," said Ryan Sweet, Chief US Economist, Oxford Economics. "It seems like the engine of the US economy continues to hum along where it's sputtering in other nations."

https://www.bbc.co.uk/news/world-us-canada-68203820?at_medium=RSS&at_campaign=KARANGA

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