Happy Days Are Here Again?
August 29, 2010
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TTLA missed this report when it came out earlier this summer -- but here's hoping that any upbeat economic news is considered better late than never.Milken Institute's Ross DeVol's research shows that the U.S. economy is -- like so many folks in Hollywood -- already in recovery.
From the press releaseannouncing the report, which is titled, From Recession to Recovery: Analyzing America's Return to Growth
"Key points in the forecast: * Real GDP will grow at 3.5 percent in 2010, 3.7 percent in 2011 and 3.8 percent in 2012. Growth returns to slightly less than 3 percent from 2013 to 2015. * The U.S. will add 1.8 million jobs in 2010, 3.1 million in 2011 and 2.6 million in 2012. * Real consumer spending is projected to increase 2.8 percent in 2010, 3.5 percent in 2011 and 3.0 percent in 2012. * New home construction won't aid economic growth in 2010, but residential fixed investment should jump 26.0 percent in 2011 and 25.7 percent in 2012."
And:
"The recovery is fueled by: * Economic growth in developing countries, which supports U.S. exports * Improved business confidence that fosters strong investment in equipment and software * Consumers making previously deferred purchases of durable goods * Record-low long-term interest rates * A benign inflationary environment that will allow the Fed to keep short-term interest rates at zero until late 2010 or even into 2011"
Photo Credit: The image accompanying this post was taken by Flickr user Patrick Hoesley. It was used under Creative Commons license.
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