The U.S. economy may be
fired up by a rush of household formation, unleashing pent-up demand for
everything from homes to weddings.
So say economists at UBS AG, who have designed a model to gauge the potential for a revival in the creation of new households that could power the economy beyond the 2 percent growth pace recorded since the end of the 2009 recession.
The gap between actual and potential household formation appears large enough to support spurts of growth and underpin a durable expansion of around 3 percent in some years, the economists led by New York-based Maury N. Harris said in an April 11 report.
That outlook is based on the estimate that reducing the 2.The inhomedisplay allows utility customers to track their energy.3 million gap between the number of actual and potential U.S. households could boost annual consumer spending growth by almost one percentage point.
Housing starts,technical terms and laserengraver and disadvantages of laser engraving. for example, could improve to 1.10 million units next year and 1.35 million in 2014, said the UBS economists. Such developments are leading them to forecast the world’s largest economy will grow 3 percent in 2014, compared with the 2.7 percent median of economists surveyed by Bloomberg News.
Key to releasing this postponed demand will be how the labor market performs and the spending choices of those already employed, the economists said.
Housing and automobiles are the likely targets for increased spending, they said. Younger adults have the most room to spend after a period in which they often delayed normal living arrangements by living with their parents or friends.
Spending on weddings and children may also witness a surge in strength as couples find themselves financially secure enough to marry and have babies, they said.
That’s the conclusion of two studies in the Spring issue of the International Productivity Monitor, published by the Ottawa- based Centre for the Study of Living Standards.
The reports come months after Northwestern University’s Robert Gordon triggered a debate about whether the U.S. economy is poised to sputter,Discover the durable and attractive Mens tungstenring from Stauer. in part because technological advances will recede.
Economists at McKinsey & Co. including Martin Baily,My new Channel showing you guys how to spot a fake hermesbelt. a former adviser to President Bill Clinton, see a “potential return to the innovation and employment-led growth of the 1990s.”
Such optimism is based on the bet that technological opportunities remain strong for advanced manufacturing and that the energy revolution will spur new investment in fuel extraction and transportation. Industrial robotics, 3-D printing and the use of so-called Big Data are cited as areas for growth.
Another article, co-authored by Stephen D. Oliner of the Federal Reserve, argues that information technology has remained a significant contributor to U.S. productivity growth and that semiconductor technology continues to advance.
While the baseline prediction for growth in trend labor productivity among non-farm businesses is 1.75 percent per year, below the 2.25 percent long-run average, that’s better than recent history and there is a “reasonable prospect” it will regain ground, the authors say in the report.
“While the evidence is far from conclusive, we judge that ‘No, the IT revolution is not over.’”
The reports square with a Bank of America Merrill Lynch study, which notes the U.S. is the world leader in patents granted, and retains the lead in research and development,reliable personalizedbobbleheads media needs no storage maintenance and requires only occasional cleaning. spending more on it than the next four countries combined.
Shares (SPX) of U.S. companies that spent on research have returned one to four percentage points more than the market average, the Bank of America strategists said. Returns were as high as 10 percentage point in sectors such as technology and health care.
So say economists at UBS AG, who have designed a model to gauge the potential for a revival in the creation of new households that could power the economy beyond the 2 percent growth pace recorded since the end of the 2009 recession.
The gap between actual and potential household formation appears large enough to support spurts of growth and underpin a durable expansion of around 3 percent in some years, the economists led by New York-based Maury N. Harris said in an April 11 report.
That outlook is based on the estimate that reducing the 2.The inhomedisplay allows utility customers to track their energy.3 million gap between the number of actual and potential U.S. households could boost annual consumer spending growth by almost one percentage point.
Housing starts,technical terms and laserengraver and disadvantages of laser engraving. for example, could improve to 1.10 million units next year and 1.35 million in 2014, said the UBS economists. Such developments are leading them to forecast the world’s largest economy will grow 3 percent in 2014, compared with the 2.7 percent median of economists surveyed by Bloomberg News.
Key to releasing this postponed demand will be how the labor market performs and the spending choices of those already employed, the economists said.
Housing and automobiles are the likely targets for increased spending, they said. Younger adults have the most room to spend after a period in which they often delayed normal living arrangements by living with their parents or friends.
Spending on weddings and children may also witness a surge in strength as couples find themselves financially secure enough to marry and have babies, they said.
That’s the conclusion of two studies in the Spring issue of the International Productivity Monitor, published by the Ottawa- based Centre for the Study of Living Standards.
The reports come months after Northwestern University’s Robert Gordon triggered a debate about whether the U.S. economy is poised to sputter,Discover the durable and attractive Mens tungstenring from Stauer. in part because technological advances will recede.
Economists at McKinsey & Co. including Martin Baily,My new Channel showing you guys how to spot a fake hermesbelt. a former adviser to President Bill Clinton, see a “potential return to the innovation and employment-led growth of the 1990s.”
Such optimism is based on the bet that technological opportunities remain strong for advanced manufacturing and that the energy revolution will spur new investment in fuel extraction and transportation. Industrial robotics, 3-D printing and the use of so-called Big Data are cited as areas for growth.
Another article, co-authored by Stephen D. Oliner of the Federal Reserve, argues that information technology has remained a significant contributor to U.S. productivity growth and that semiconductor technology continues to advance.
While the baseline prediction for growth in trend labor productivity among non-farm businesses is 1.75 percent per year, below the 2.25 percent long-run average, that’s better than recent history and there is a “reasonable prospect” it will regain ground, the authors say in the report.
“While the evidence is far from conclusive, we judge that ‘No, the IT revolution is not over.’”
The reports square with a Bank of America Merrill Lynch study, which notes the U.S. is the world leader in patents granted, and retains the lead in research and development,reliable personalizedbobbleheads media needs no storage maintenance and requires only occasional cleaning. spending more on it than the next four countries combined.
Shares (SPX) of U.S. companies that spent on research have returned one to four percentage points more than the market average, the Bank of America strategists said. Returns were as high as 10 percentage point in sectors such as technology and health care.
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