a research by Stefano Francesco Fugazzi (ABC Economics) with Paola De Pascali – With the United States presidential election on the horizon (scheduled for Tuesday, November 8, 2016), it is time to review how America’s key macroeconomic indicators have fared under President Barack Obama’s two 4-year terms.
Likewise Russian President Vladimir Putin (click here to read our economic review of Russia), Obama took office at the height of a financial crisis (Putin in 1999, Obama in 2008).
In both countries all key indicators have somewhat recovered over time. Both countries may face some huge uncertainties over the coming months (Russia being affected by low commodity prices and the US by the Chinese economy).
For instance, in the United States industrial production decreased 1.20 percent in November of 2015 over the same month in the previous year. It is the first drop since December of 2009 as mining output fell 8.2 percent and utilities went down 7.6 percent while manufacturing increased 0.9 percent.
A review of the key indicators suggests that the next US President will have to tackle the growing stock of government debt which expanded massively under the Obama administration (from mid-75 to over 100% of GDP).
Hereafter an ABC Economics info-graphic analysis showing how the US economy has evolved since 2008.
NOTE: Output gaps for advanced economies are calculated as actual GDP less potential GDP as a percent of potential GDP.