The US is leading economic recovery in the developed world, according to Euromonitor.
A weak dollar is a concern as it may dampen demand for imports in the world’s largest consumer market, said Euromonitor, but on the flipside it will make exports cheaper and reduce the trade deficit.
“2013 has been a challenging year for advanced economies, in particular those of the G7,” said Euromonitor.
“Despite the US’s fiscal woes, North America has turned a corner in the second half of 2013 with unemployment falling, consumer confidence set to rise and the fastest real GDP growth of the G7 economies.”
Among the G7 nations, the US is showing the fastest growth, ahead of Canada and Japan, with the UK lagging behind and still designated as in “Recovery”.Slightly below average and in the “No Real Growth” sector comes Germany, followed by France and Italy.