The Conference Board Economics Watch® United States View
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Publication Date:
October 18, 2016
Solid consumer sentiment but subdued business sentiment make for a two-speed economy in the United States. Consumer spending continues to be the primary driver of economic growth. Falling corporate profits will keep business sentiment subdued and limit capital spending. Slower job creation may be the result of profits falling as wages rise. And the labor market will continue to tighten, with the working-age population projected to show almost no growth over the next 15 years. Only a large, steady influx of immigrants can counter these trends.
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