more than a third 14.4% 21.5% the rest of the world recession in the U.S.
According to The Brookings Institution report in June 2009, how much growth did U.S. consumption account for between 2000 and 2007? For the first quarter of 2009, what was the annualized rate of decline in GDP in Germany? For the first quarter of 2009, what was the annualized rate of decline in GDP in Mexico? Who depended on the U.S. consumer as a source of global demand? What is one reason for the decline in growth around the world in 2009?
The Brookings Institution reported in June 2009 that U.S. consumption accounted for more than a third of the growth in global consumption between 2000 and 2007. "The US economy has been spending too much and borrowing too much for years and the rest of the world depended on the U.S. consumer as a source of global demand." With a recession in the U.S. and the increased savings rate of U.S. consumers, declines in growth elsewhere have been dramatic. For the first quarter of 2009, the annualized rate of decline in GDP was 14.4% in Germany, 15.2% in Japan, 7.4% in the UK, 18% in Latvia, 9.8% in the Euro area and 21.5% for Mexico.
question: According to The Brookings Institution report in June 2009, how much growth did U.S. consumption account for between 2000 and 2007?, answer: more than a third | question: For the first quarter of 2009, what was the annualized rate of decline in GDP in Germany?, answer: 14.4% | question: For the first quarter of 2009, what was the annualized rate of decline in GDP in Mexico?, answer: 21.5% | question: Who depended on the U.S. consumer as a source of global demand?, answer: the rest of the world | question: What is one reason for the decline in growth around the world in 2009?, answer: recession in the U.S.