The domestic private sector of the U.S. economy has shown great resilience in the face of ongoing global uncertainty and dysfunctional government policy. However, we maintain our cautious economic outlook for 2013.
The Conference Board Economics Watch® United States View (April 2013)
The Conference Board Economics Watch® United States View (April 2013)
Global Economic Analysis
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With U.S. fiscal policy tightening further, can the improving private sector withstand it?
- Revival in the housing market and strengthening labor markets are bolstering domestic private sector activity
- February retail sales and employment data, along with January inventory data suggest upside potential to our cautious economic forecast for 2013
- But, spending sequester leads to tighter fiscal policy, adding to the drag from the expiry of the payroll tax cut and rise in top-income tax rates
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