Monday, December 19, 2016

The Economy in 2017 and where we stand!

Amidst the slow growth in the past 2 years globally being long term. economist projects that in the initial part of 2017, the US economy will rebound in lieu of 3-8 % increase in consumer spending since the holiday season started.

It is said the projected GDP growth in 2017 will be around 2% contrary to the projections of 4% of the incoming US President Donald Trump. Inflation was greatly controlled in 2016 due to the low price of oil and crude.  The strong US dollar partly is credited to the lower oil price in the markets around  a target of $50/barrel next year.

The Bureau of Labor projects that Healthcare jobs will play an increased significantly next year especially those with occupational merits having Masters Degrees. These jobs with be followed by computer related job growths as well as educators.

As the legacy of outgoing President Barack Obama in establishing the economic recovery after the financial crisis in 2008, we should focus on educating ourselves on our careers by learning more adaptive skills towards our jobs. Another area is looking at the stock market improvement towards reclassifying retirement and 401 k plans.

The initial uncertainty of a new administration on the White House will trigger an increase in interest rate and inflation on the early part of 2017 as new rules and ammedaments like the Affordable Care Act may or may not be a huge effect on the new state of the US economy.

The markets for sure will have a wait and see attitude towards new regulations and administrative orders from the new executives in the Trump administration.

As of this writing, we consumer spending towards the christmas and new year continue to revitalized the GDP.

Where we go from here in 2017 again will be a next chapter.

Happy Holidays and a more prosperous 2017.