Citing economic uncertainty, many companies deferred critical business decisions in 2013.
Meanwhile an economic transformation was underway. As reported by The Institute of Supply Management, the year through November saw production, new orders, order backlogs, and the Purchasing Managers’ Index record six consecutive months of improvement — and the positive trend is accelerating.
The Wall Street Journal reports an energized expansion of GDP, elevated consumer spending, and that “homebuilders are stepping up construction; manufacturers have ramped up production; and hiring continues at a steady pace.”
The Journal’s analyses also establish that “After-tax Corporate profits in the third quarter topped 11% of GDP for the first time since the records started in 1947.”
In December, after stimulating the US economy for over 3 years, the Federal Reserve Bank announced that with the strengthening US economy, the stimulation is now being scaled back.
Finally, economists at PNC Bank observe that annualized US economic growth in 2014 will be “around 2.5%, up from 1.6%” in 2013″ — a 56% improvement.
Waiting until next year was a common reason for deferring business decisions last year.
It’s now next year!
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