Happy Days Are Here Again? | KCET
Happy Days Are Here Again?
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 release announcing 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."
"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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