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The Conference Board Economics Watch® United States View
- Authors:
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Publication Date:
August 2013
U.S. economy to strengthen as fiscal drag lessens
• Despite weak 1H growth, economic growth to speed up in 2H 2013
• Fiscal drag should lessen going forward and private sector activity firm
• Continued strengthening in the housing and labor markets to lead the way
• GDP growth was revised up in 2012, boosting productivity growth in 2012
• However, recent slowdown in productivity growth must reverse in order to support expected economic acceleration
• Dysfunction government still poses a downside risk to economic outlook