The $11 trillion advantage that shields US From turmoil

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The $11 trillion advantage that shields US From turmoil. Consumer spending is likely to steer the US economy safely through the shoals of deteriorating global growth and turbulent financial markets. The combination of more jobs, falling gasoline prices and low borrowing costs will help lift household purchases. Such tailwinds probably matter more than Europe's struggles or the slackening in emerging markets that caused the Dow Jones Industrial Average last week to erase its gains for the year. Household purchases make up almost 70 percent of the $16.8 trillion U.S. economy and have climbed an average 2 percent in the recovery. Spending growth will accelerate to 2.7 percent next year after 2.3 percent in 2014, according to the latest Bloomberg survey of economists. Read the full article here: (VIEW LINK)


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