Despite concerns over our nation’s economic condition, a recent report from the Institute for Trend Research (ITR) shows that the U.S. economy is still, far and away the global leader, even gaining ground over the past year. Between 2011 and 2012, the U.S. percentage of global GDP increased from 21.7 percent to 21.9 percent.
Elsewhere in the global economy, European counties have experienced a decline in their percentage of world GDP, while China gained a full percentage point in the last year. And while China ranks second in the global GDP list, it still represents only 11.5 percent of the world economy.
For all of our concerns over inflation, debt and unemployment, the U.S. economy showed positive signs in 2012 and is now seeing some growth in the fist half of 2013. We certainly have concerns, but compared to the rest of the global economy, the U.S. still finds itself in a very strong position. According to the ITR report, it’s likely to remain that way for the next several decades.
Source: Institute for Trend Research 1