Think the disappointing U.S. jobs report for December has dampened the optimism of economists about the new year? Think again.
Most economists think the dismal 74,000 increase in net hiring last month was a fluke caused by poor weather and seasonal-adjustment problems that will soon be revised away or prove to be an aberration.
The way those with a sunnier view see it, the road is clear for the U.S. to produce its fastest spurt of growth since the Great Recession. There’s no big crisis in Washington brewing, U.S. households are better off financially and businesses are raking in the profits. Nor are there any major global threats to the economy on the horizon.
Consider the new forecast by top economists at the nation’s leading bank firms. They predicting the U.S. economy will hit 3% growth in 2014 for the first time in nine years.
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