TD Economics projects economic growth of 3.0% in 2015 and 2.8% in 2016, driven by the highest annual gain in jobs since 1999 and falling inflation rates, will drive U.S. consumer optimism.
A strengthening labor force leading to stronger consumer spending and gradual housing market gains, combined with a tempered tightening of Fed monetary policy to preserve the burgeoning economic expansion mean the pieces are in place for the economy to grow by 2.9% in 2015, according to a forecast by James Marple, TD Bank Group senior economist.
After averaging 2.2% in 2014, the economy is forecasted to grow by 3.0% in 2015, according to a report by TD Economics. The unemployment rate is expected to fall to 5.5% by year-end 2015.
Economic growth stumbled in the first three months of this year, but bounced back in the spring and will maintain momentum over the remainder of 2014, according to a report released by TD Economics.
Snowstorms and freezing temperatures slowed the economy at the start of this year, but spring will bring brighter prospects for growth, according to a new report by TD Economics.
Despite the fact that tax hikes curbed spending, a reduction in fiscal drag, increased activity in the housing market, and broader sales and business investment growth will lead the economy to grow by 2.7% in 2014 and 3.1% in 2015, according to a forecast by James Marple, TD Bank Group senior economist.
After a year that started with a fiscal cliff and ended with the first bipartisan budget deal in years, diminishing fiscal drag should give way to faster economic growth, according to a new TD Economics report.
The recovery in the economy will continue to show improvement over the next year, despite the recent rise in interest rates, according to a new report by TD Economics.