By Michael Rodriguez & Heather Romani, June 2013
The US economy continued to show moderate growth in the first quarter of 2013, following the trend of modest growth seen through all of 2012. Some economic indicators are showing positive signals: housing prices are continuing to rise; unemployment has remained under eight percent for eight months; and the private sector continues to add jobs despite continued cut backs in non-military government employment. Of these, the most positive signs are in the housing market because the net worth of families and individuals is often tied to real estate prices, and increased net worth can in turn lead to increased consumer spending down the road. On balance, the trend continues with a similar story to what this column reported in the December 2012 issue of EFR—a modest recovery that sustains some economic growth but has been insufficient to yield a full recovery.
Full article via Parsons Brinckerhoff, Economic Forecast Review