The US one of the most developed economies have passed through the worst recession during the financial period 2008-09 ,after the depression of the Second World War. The US economy faced a minor recession in year 2001 due to the leakage of dot-com bubble in the early 2000 and which began to shrink in early 2001, while most of the reports present it as a consequence of the September terrorist attack in New York. The economy entered into the period of recession during the year 2007 mainly because of a slow down in the real estate and other financial problems. The consumer expenditure pattern in US is also one of the major contributors in slowing down the growth of the economy. The increased spending pattern with more reliance on consumer debts actually acts as a catalyst in lifting economic growth. The struggling market had now forced the US households to change their consumption pattern emphasizing more on savings than on expenditure. The unemployment level after crossing a record of 26 years is expected to continue the same trend till 2010 with a decline in wage growth. The Sources indicates that the market is expected to recover during the period 2010-11 at least better than Europe & Japan who may face sever financial problems in future. In August 2009, The Federal Reserves Bank, one of the major player in Economy announces that it is expecting that recession is ending and also concludes that though the recession is ending the recovery will be very slow and the unemployment level will remain high for another one or two year. In a meeting Barrack Obama announces few measures for recovering the economy which includes creation of more job opportunities, promotion of small scale business and hiring more workers in projects, promoting road & building construction projects etc. After Barrack Obama declares some signs of progress for US Economy we can also expect those good days to come.
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