The Conference Board Economics Watch® United States View
- Authors:
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Publication Date:
April 2013 -
Report Number:
EWUV_V3N4
Economy again Hits a Spring Swoon
• U.S. economy grew at a moderate 2.5% pace in Q1, less than forecast due to deep contraction in military outlays and rebound in imports
• Providing support was a pop in real consumer spending and inventories
• However, delayed effect from higher payroll tax rates and sequester spending cuts will slow consumer spending and overall activity
• Shale gas and oil revolution could be a medium and long-term game changer for the U.S. economy, geopolitics, and green energy
• Government regulation and decisions regarding exports loom large