The Conference Board Economics Watch® United States View

The economy is growing moderately and could even quicken a little over the next few months. Indeed, the near-term encouraging prospects include the upcoming holiday season supported by confidence gains, solid job market and even some wage gains at the time of slowing inflation. However, this could further chip away at the remaining small output gap. Consumer and business expectations have to adjust to a lower long-term growth trajectory, not only in 2015 but beyond.