WalletHub staffer John S Kiernan provides an economic outlook for 2016, with 10 financial predictions for the coming year based on research data and economists' expert opinions. In short, the outlook focuses on 10 factors that will impact 2016, including GDP growth of 2.4%, employment increases, stock market growth, record auto sales, energy market rebounds, interest rate hikes, rising home prices, credit changes, and threats of identity theft.
Domestic economic growth in the New Year is expected to be modest. Numerous analysts are projecting a flat year for the stock market. And while employment is nearing target levels set by policymakers, many people still feel abandoned by the economic recovery. It is with that context that we count down the final days of 2015 and prepare to enter the unknown. No one can predict precisely what the future holds, after all, but we can make some educated prognostications in order to help prepare both you and your wallet for the challenges and opportunities that 2016 will inevitably bring.
Head over to WalletHub for a full, detailed explanation of WalletHub's financial predictions for 2016.