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Tangible signs of U.S. economic turnaround are evident, and the recovery is already under way, according to this economic analysis from Ross DeVol, Executive Director of Economic Research.

From Recession to Recovery: Analyzing America's Return to Growth calls for modest but sustainable growth in GDP, consumer spending and jobs. According to DeVol, strong recovery in business investment in equipment, more robust exports, a more upbeat consumer and continued low interest rates will fuel the growing recovery.

Key points in the forecast:

  • Real GDP will grow at 3.5 percent in 2010, 3.7 percent in 2011 and 3.8 percent in 2012. Growth returns to slightly less than 3 percent from 2013 to 2015.
  • The U.S. will add 1.8 million jobs in 2010, 3.1 million in 2011 and 2.6 million in 2012.
  • Real consumer spending is projected to increase 2.8 percent in 2010, 3.5 percent in 2011 and 3.0 percent in 2012.
  • New home construction won’t aid economic growth in 2010, but residential fixed investment should jump 26.0 percent in 2011 and 25.7 percent in 2012.

To read the full, original article click on this link: Milken Institute Publications - Research Reports - From Recession to Recovery: Analyzing America’s Return to Growth

Author: Ross DeVol