The economists are now worried about the economy of the US as the economy of European countries are not so good for last few months. The historic rise in unemployment and biggest fall in the housing sector are the major issues of worry for the economists.

According to the experts, the US economy is in such a troubled condition that it can’t be considered as a weak economy and it is not also stable enough to give confidence to the business.

The huge widening in the trade deficit of US has made the economists to revise down the growth forecast for the second quarter which suggested that the slowdown in the economic growth has came faster than expected earlier.

The chief economist of MF Global in New York, Jim O’Sullivan has said that the downturn in the US economy is caused by the debt concerns of Europe but now the European economies have started to grow.

According to the survey of Philadelphia Federal the US economy would see a growth up to 0.5% with the help of further firming. The housing market is the main reason of worry for the economists.