Underlying economic conditions remain strong

BVWireIssue #148-1
January 7, 2015

The U.S. economy posted its strongest growth in 11 years during the third quarter of 2014, expanding at a 5.0% rate. The growth was fueled by robust consumer spending and business investment. The Associated Press reported that the acceleration in U.S. growth is a key reason the global economy is also expected to grow faster in 2015, at about 3.0%, up from 2.5% in 2014, according to economists at JPMorgan Chase and IHS Global Insight. Meanwhile, Gallup's U.S. Economic Confidence Index moved into positive territory at the end of December for the first time since before the Great Recession. Gallup found that this was a possible sign that Americans are feeling the accelerating economic recovery. The Conference Board’s Leading Economic Index also displayed optimism, indicating that the U.S. economy will continue to grow through the winter season and that the underlying conditions remain strong.

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