The US recovered more swiftly from the recession than other major economies (it was the second country in the G7 after Canada to regain all of its lost output), but the recovery has not happened as fast as many hoped.

Growth of 2.8 per cent in 2010 placed it at 127 in the international growth league table, behind Canada, Germany, Japan and Russia. The US share of global GDP (measured by purchasing power parity) peaked in 1999 at 23.8 per cent and has been declining ever since.