for January, 2013

January 2013 Economic Overview

Posted on 01/28/2013 in Construction, Economic Overview, Engineering, Utility - 0

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Expect 2013 GDP growth under 2.5% to yield modest economic improvement and unemployment drop. Stock market will improve overall with high volatility as the political process yields “kick-the-can-down-the-road” legislation. February battle over the debt ceiling between House and President will set the precedent for the remainder of the year. European financial issues and Middle East turmoil will add to the volatility, but not throttle U.S. economy. Improving Asian growth will support and accelerate U.S. growth. Domestic shale oil and gas will drive the resurgence of U.S. manufacturing and refining competitive advantage, create jobs, and have a wide-ranging impact across many industries. The overall optimism for 2013-2015 wanes during a 2-3 quarter slowdown between 2015-2017; beyond 2017, Generation Y and demographic and immigration influenced expansion of the workforce drives economic growth and output.

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