Economic growth usually comes from consumer spending, business investment and net exports

January 30th, 2013|by Michael Ashley Schulman, Perspectives, The Big Picture|

Economic growth usually comes from consumer spending, business investment and net exports. In looking at past recoveries, other key historical lessons include the following:

  • Household deleveraging lasts for 5 to 7 years. The U.S. has 3 years to go.
  • Consumer spending growth does not remain at a depressed pace for the entire household deleveraging phase. Instead, spending […]