CHICAGO--(BUSINESS WIRE)--In the 10th anniversary issue of Themes on the Economy®, Mesirow Financial’s chief economist reveals her forecast for the U.S. economy in 2014. “Real GDP growth is expected to accelerate to a 2.4% pace, three quarters of a percent faster than in 2013 and the best performance since 2010. The downside is that growth is still falling short of 3%, which would make a much larger impact on job growth.”
The forecast includes a significant contribution from the consumer. “Consumer spending is expected to pick up on the heels of better employment and an improvement in wealth. The gains in wealth however, remain extremely uneven,” notes Swonk, pointing to a recent Pew Research Center study.
Good news also on the horizon for the largest component of the average household’s wealth, the family home. Swonk predicts, “Home buying and building are expected to continue to post gains in 2014, following a pause at the end of 2013. The shortage of inventory for both new and existing homes remains acute,” which has had an artificial impact on prices in many markets.
Mesirow Financial is a diversified financial services firm headquartered in Chicago. Founded in 1937, it is an independent, employee-owned firm with approximately 1,200 employees globally. With expertise in Investment Management, Global Markets, Insurance Services and Consulting, Mesirow Financial strives to meet the financial needs of institutions, public sector entities, corporations and individuals. For more information about Mesirow Financial, visit its website at mesirowfinancial.com.