The Conference Board Economics Watch® United States View
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Despite the upward revision of GDP growth performance in Q3 to an annualized 4.1 percent pace and the Federal Reserve’s decision to start to modestly taper back on its quantitative easing (QE), we look for GDP growth to finish 2013 on a weak note. However, the outlook for 2014 will be brighter, with the recovery in the housing market resuming its previous robust pace and the strengthening of the labor market. The Federal Reserve will begin to slowly taper back its QE bond purchases in January, but the Fed indicated it is in no hurry to raise short-term interest rates.