The U.S. economy is slated to grow incrementally from 2014 to 2016. This economic forecast, comprising the outlook from 2014 to 2024, was released by the Congressional Budget Office. They found that the rate of growth for the gross domestic product in the U.S. will increase in the next few years, reaching a 3.4 percent growth rate between 2014 and 2016.
The rate of growth for U.S. GDP is also projected to pick up in the second half of 2014. Bad weather, according to the source, contributed to less successful economic performance in the first half of 2014. There are a number of reasons for the estimated growth, noted the source. This includes more demand for the products businesses provide. This will provide an impetus for businesses to invest in their workforce. Other reasons include increased consumer spending and a better mortgage market.
"There is no question we have made progress – businesses have added 9.9 million jobs over 53 straight months of job growth," said Maryland Rep. Chris Van Hollen, the top Democrat on the House Budget Committee, according to CBS. "But there is more we need to do."
Manufacturing recruiters will have many beneficial trends to take advantage of in the U.S. economy.