As 2016 has started, everyone is anxious about the state of the country’s economy. Although many financial experts explain things will continue to improve, you may be interested to learn how much of a boost the economy will receive in the coming months.
Looking back at 2015, growth was 2.5 percent. Analysts are hopeful 2016 will exceed this number. Many experts feel 2016 may enjoy a 2.6 percent growth. Since the manufacturing sector has been a bit weak, some economists project a recession. However, this is not likely. The last recession occurred after 2007’s housing bust, but the scenario is very different for 2016.
As you take a closer look at the annual change in real GDP since 2007, you will notice economic activity has remained near 2 percent. If oil prices remain low and government spending increases, the country may enjoy growth approaching 3 percent for the year.
All the trends that have led to the current positive economic state remain in place, and activity is still going strong. The housing market is recovering, household income is more stable, and public construction is set to improve in 2016. These factors will greatly help grow the economy.
Although you are probably aware of the economic problems across the globe, especially in China and Europe, it is important to examine the state of this country’s financial status. It seems 2016 will be a strong year for the U.S. economy. If you are interested in entering the housing market, the time is now.