The news today about the upturn in US economic is definitely welcoming but we should not quite celebrate yet. The figures indicated that the US economy grew at a rate of 3.5% in Q3 but we have to take into account the huge government stimulus that has been injected into the economy. Part of the up lift in the economy has been due to the US version of the Car Scrappage scheme at a price of $3bn. There are still hard times ahead especially as the labour markets usually lags behind any economy recovery and with an unemployment rate of 9.8% it is not going to get better any time soon.
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