The gross domestic product is growing faster in the U.S. than any other advanced economy because of its concentrated wealth of mentors, investors and innovators, the Financial Times reported Tuesday.
America’s GDP has expanded 11.4% since 2019 and will grow an additional 2.8% by the end of 2024, the International Monetary Fund predicted. The U.S. economic growth is fueled by its wealth of research and development spending in technology-based companies coupled with a 30% growth in labor productivity since the 2008-09 financial crisis, according to the outlet. That figure is more than three times the pace in Europe and the United Kingdom.
Although the U.S is the envy of the world when it comes to risk-taking venture capitalists, the policies of President-elect Donald Trump have some industry experts skeptical that growth will continue.
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