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As many world economies either slow down or even skirt with recession, the American economy has re-accelerated and is on path toward a selfsustaining expansion. The strength can be seen in the job market: the country has been generating 227,000 jobs per month in 2014. That is the best annual level in over a decade. Job gains are also becoming more broad-based, spreading beyond their initial post-GFC surge in technology, energy, healthcare and low-paying services. And while we remain concerned about an ambiguous international situation and a recently rocky stock market, U.S. business confidence remains very high.
There are many reasons for this optimism: U.S. firms are benefitting from growing sales, re-structured balance sheets, low interest rates and cheaper (and increasingly domestically produced!) energy. To stay competitive, firms are now making up for their years of under-investment in not only people, but also software, equipment and real estate. For these reasons, and because we Federal austerity continues to fade, we expect U.S. GDP growth to remain strong in the near term.
Source : CBRE Global Investors
