- The consensus is 2.3% while the Fed estimates 2.4-2.9%
- Williams added that growth will be stronger in 2013
- Housing sector still ‘quite weak’
- Manufacturing ‘doing well’
- Consumer spending won’t be big engine of growth for next several years
- Growth must come from other areas
I’d like him to outline those other areas because they certainly aren’t housing or government spending. Manufacturing and trade can only carry so much of the load. What does that leave? Indications suggest corporate investment is slowing and you can only build inventories for so long.
