As we enter the New Year, it is time to reflect on the events of the past year and try to anticipate some of the drivers of the economy in the months ahead. In this blog, I will take a look at some of the key economic trends in 2012. In the following blog, I will share some thoughts on the major drivers of freight transportation in the coming 12 months.
Here are some of the economic forces shaping the economies of North America in 2012.
1. North America will avoid Recession
The United States and Canada will probably avoid a recession. The good news is that domestic risks have diminished somewhat, and growth momentum has picked up modestly. Consumers seem willing to spend and businesses are more disposed to hire—albeit cautiously. The consensus among economists is that over the next year growth in the United States and Canada will average between 1.5% and 2.0%.
2. Fundamental Changes are taking place in the Housing Market...