January 2, 2017
With a cantankerous election and turbulent year behind us, what awaits us the way forward? According to economist M. Ray Perryman, who heads the Texas-based Perryman Group, 2017 will be a mixed bag, economically.
On the positive side, the economy is performing well, consumers are confident, and job growth continues, especially among professional and business services, and healthcare.
On the not-so-positive side, the U.S. economy will be negatively impacted by slowing expansion in other nations. Advanced economies, especially, are likely to experience sluggishness, though emerging markets are liable to experience improvement.
Breaking it into numbers, Perryman anticipates real gross domestic product to increase at a just under 3% rate, adding that about 12.2 million net new jobs are forecast to be added. Though oil prices, markets and military issues could impact performance, “on balance, I expect the next five years to bring continued improvement,” Perryman said.
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