Why America’s Economy Will Likely Stall This Year
In a few days, we will see how America really is doing; with the second estimate for the second-quarter real gross domestic product (GDP) is due out on Thursday, we will soon see if the 1.7% advance reading holds.
There has been speculation and talk about how well the economic recovery is faring, but I really don’t believe the economy is at a stage where we can say the worst is over. Now, I don’t believe the U.S. economy will re-enter a recession unless the rest of the world does.
My concern is that you never know. When the easy money stops flowing and interest rates edge higher, the economy will be tested, and we’ll see if it holds.
So far, based on what we have seen with the economy, sluggish consumer spending, lower government spending, and the slow revenue growth in corporate America, I wouldn’t be surprised to see a softer reading for U.S. GDP growth.
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