Economist delivers positive forecast for 2014
Robert Dye, chief economist for Comerica Bank, delivers his economic forecast for 2015, at January’s Good Morning Livingston program.
Robert Dye, chief economist for Comerica Bank, delivered an upbeat economic forecast at the Howell chamber’s Good Morning Livingston program on Jan. 28 at Crystal Gardens – Livingston.
“We’ve got better economic news to look forward to in the coming year,” Dye said. “We’re coming out of the shadow of the Great Recession.”
The U.S. is entering a new growth period, Dye said, and is starting to see the “lift” after suffering economically for the past five years.
“We’re getting to the other side,” Dye said.
Households are accumulating wealth again, owners’ equity in their homes is going up, the U.S. is the leader in energy production, consumers are keeping pace, there’s more business investment, manufacturing jobs are returning to the U.S., and new home construction is up.
Despite the good news, projections show the closing budget gap to widen again in a few years.
“We still don’t have a long-term fiscal policy in place,” Dye said.
The effect of the Affordable Care Act, after a “less-than-graceful” rollout, remains to be seen.
For Dye’s presentation, click here.