U.S. Outlook: Should we worry about the consumer?
The short answer: not really.
For more details, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on March 18.Key observations:
- We forecast consumer spending will continue to drive this economic expansion forward.
- Our current tracking estimate of U.S. Real GDP growth for the first quarter is 2.0%.
- The combination of low gas prices and an improving housing market is driving increases in building-materials spending.
- The latest job openings level is back near the cyclical highs of this economic expansion.