While consumer spending is still sluggish, the forecast for the U.S. economy is favorable and a double-dip recession is unlikely. That’s the word from a senior economist at Huntington Bank, who also sees good news ahead for U.S. businesses.
“Corporate profits are close to achieving a new U.S. record high, with strong growth in both manufacturing and non-manufacturing sectors, economist George Mokrzan said.
He also notes that proposed tax cuts “would help spark spending, but are challenging to implement due to the high level of government debt.”
His full findings can be found HERE.