The Nation’s Economic Outlook

THE NATION’S ECONOMIC OUTLOOK By Jack Malehorn ECONOMIC GROWTH CONTINUES UNABATED By the time this goes to the printer and then delivered to you, we will be at the halfway point in the year. As such, salient questions loom: “How is the economy performing?” “Where will it be 6 months from now?” “Where will it be this time next year?” The Consensus Outlook has been right on target, to date. The economy continues to chug along despite the plethora of distractions. Our nation’s economy seems to have shrugged off the potential of a housing bubble, the growing trade deficit, signs of inflationary pressures building, a shocking explosion in gas prices, and the ongoing worry over terrorism. To date, the economy is performing at a satisfactory and seemingly sustainable pace, and is expected to continue well into next year according to the Consensus Outlook. However, there is no doubt that any one of the above-mentioned factors may still cause harm to this year’s economic growth. Still, either individually or collectively, the Consensus expects positive and sustainable real growth in the economy into the foreseeable future. The Consensus Outlook calls for real growth (GDP) ...