When US economy start to be back on the track, on the other side of the Atlantic no significant economic recovery is still felt. After the very good results published at the end of January for the American economy, optimism is back in the white house with growth forecasts for 2010, updated last Monday, to 2.7% and 3.8% for 2011. In the Euro zone, the International Monetary Fund (IMF) predicts a GDP growth of only 1% for the entire year, following the hard economic downturn last year (-3.9% according to the IMF).
The good results in USA are the consequences of the strong economic policy reactivity during the crisis such as budget stimulus or lower interest rates. The US acted quicker and deeper. Most of the Obama recovery plane will come into action this year when, in the same time, the Euro zone has already executed almost all his emergency plans. Thus, even if most of the experts agree to say that the worst of the crisis is behind, none of them predict a strong recovery in Europe for 2010.
So, is the American economy more resilient to economic shocks? Most of the economists noted that such lag in the economic recovery is linked with the traditional rhythm of growth between the European countries and the USA which has a structural growth naturally stronger than Europe. However, European companies, especially the exported turned ones still have a hope. Indeed, the revival of the US economy as well as the Greek crisis pushed the dollar higher against the euro which can give back a minimum of competitively to the Euro zone products.