Once again economic activity started off the year on strong footing, to only lose steam heading into springtime. In this issue we also examine the shale gas and oil revolution to see if it can really be a game changer.
The Conference Board Economics Watch® United States View (May 2013)
The Conference Board Economics Watch® United States View (May 2013)
Global Economic Analysis
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Economy again Hits a Spring Swoon
- U.S. economy grew at a moderate 2.5% pace in Q1, less than forecast due to deep contraction in military outlays and rebound in imports
- Providing support was a pop in real consumer spending and inventories
- However, delayed effect from higher payroll tax rates and sequester spending cuts will slow consumer spending and overall activity
- Shale gas and oil revolution could be a medium and long-term game changer for the U.S. economy, geopolitics, and green energy
- Government regulation and decisions regarding exports loom large
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