The prognosticators are already gearing up
for the New Year and at least one foresees a strong economy in 2015. Freddie Mac’s chief economist Frank E.
Nothaft is forecasting 3.0 percent growth in the economy which would make 2015
only the second year in the last decade with growth at that pace or better.
His forecast, published in Freddie Mac’s Executive
is based on several factors; the governmental fiscal drag has turned into
fiscal stimulus, lower energy costs will support both consumer spending and
business investment, further easing of credit for business and real estate
lending will support commerce and development, and more upbeat consumer and
business confidence will stimulate growth.
That growth, he says, will produce more and better paying jobs which
will in turn support household formation and housing activity.