Is the Economic Boom in USA Short Lived?
2017 has been a good year for USA in terms of economic growth. Since the presidential victory of Donald Trump, American economy is seen to be growing. The consumer confidence has increased .January and August 2017 have been reported as the months in which the highest consumer confidence is recorded.
But, now The economists predict that due to the turbulent term that Trump’s government is facing, for example the departure of strategist Steve Bannon and the Virginia protests, it is expected that soon the consumer confidence is going to be down. This is a speculation and the consumer confidence is uncertain at all times but reports and surveys back the idea that this consumer confidence increment is to be short lived.
Consumers and other economic agents have shown confidence in the economy so far. It is expected that they will continue to do so for the growth of American economy. However, considering the Barcelona attacks and other national and international issues that have taken place recently, it can be said that the consumer confidence will be short-lived.
Another reason for which it is believed that the American economy is under threat of recession is that the consumer demand will also lower down because government is not taking timely actions for the Virginia protests and other issues. Trump has blamed many sides for the recent tragedy and is not being very direct towards how this issue has to be settled. It is believed that such a delay from the side of the government will only cause the consumer confidence to fall even more.
it is assumed that economic demand would stay constant from few of the political groups, however majority of the population has lost confidence in the economy,; majorly because of the Virginia protests and the negligence of White House towards it.
The actions that Trump has taken against the recent uprisings and violence in America are not considered sufficient by the masses and that is the reason that they are cutting back consumer demand fearing capital losses.
It is hoped that American population will keep their political differences aside and work in interest of the American economy as a whole. This downward trend of consumer confidence may from national from International consumers. If International consumer or importers of also cut back demand, situation would get even worse.