U.S. Leads the World in Post-Pandemic Economic Recovery
Last week we learned the U.S. economy boomed with 3.3 percent economic growth in the last quarter of 2023 (Good News: ‘U.S. economy booms with 3.3% growth’ in 4th Quarter 2023).
This week news came out that, while much of the world struggles to rebound after the global coronavirus pandemic, the U.S. leads the way in recovery. From the Washington Post (Falling inflation, rising growth give U.S. the world’s best recovery):
The European economy, hobbled by unfamiliar weakness in Germany, is barely growing. China is struggling to recapture its sizzle. And Japan continues to disappoint.
But in the United States, it’s a different story. Here, despite lingering consumer angst over inflation, the surprisingly strong economy is outperforming all of its major trading partners.
Since 2020, the United States has powered through a once-in-a-century pandemic, the highest inflation in 40 years and fallout from two foreign wars. Now, after posting faster annual growth last year than in 2022, the U.S. economy is quashing fears of a recession while offering lessons for future crisis-fighting.
I’m not a financial person but as a citizen and consumer, this is extremely good news. Four years ago as the world began to sink into a pandemic darkness, we listened as economists warned there would be difficult monetary hurdles ahead but there were no concrete numbers suggesting how long recovery would take.
The fact is our country is in a good financial place sooner than thought possible, especially compared with the progress of other countries. That’s a win for all of us.
