The U.S. Economy Is the World’s Growth Engine Again

As more Americans find jobs, they're willing to spend. That's giving the economy enough oomph to overcome slowing among big U.S. trade partners.

The eurozone is slipping back into a recession. China’s economy is growing more slowly than it has in decades, sliding toward a pace of just 7%. And the stock market has the jitters. But the U.S. engine is picking up steam.

There’s no reason to fear that U.S. economic growth will stall out, despite slowing in some major trade partners. The impact of more sluggish Chinese gains and recession in Europe will be negligible.

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David Payne
Staff Economist, The Kiplinger Letter

David is both staff economist and reporter for The Kiplinger Letter, overseeing Kiplinger forecasts for the U.S. and world economies. Previously, he was senior principal economist in the Center for Forecasting and Modeling at IHS/GlobalInsight, and an economist in the Chief Economist's Office of the U.S. Department of Commerce. David has co-written weekly reports on economic conditions since 1992, and has forecasted GDP and its components since 1995, beating the Blue Chip Indicators forecasts two-thirds of the time. David is a Certified Business Economist as recognized by the National Association for Business Economics. He has two master's degrees and is ABD in economics from the University of North Carolina at Chapel Hill.