TD Bank was out Thursday with an optimistic view on the U.S. economy:
The American economy is showing its resilience, bouncing back with gusto after a slow start to the year, according to a new report by TD Economics (www.td.com/economics), an affiliate of TD Bank.
"Consumers burst out of the gates in the second quarter, providing a strong impetus to economic growth," says TD Bank's Chief Economist, Beata Caranci. "Supported by accommodative interest rates and rising wages, consumer spending and housing investment will continue to lead economic growth over the second half of this year and into 2017."
With this backdrop in place, job growth is likely to re-accelerate in the months ahead, pushing unemployment to a new low and providing greater full-time job opportunities to those who want them. TD Economics projects economic growth of 1.9% in 2016 and 2.1% in 2017, enough to bring the unemployment rate from its current level of 4.7% to 4.3% by the end of 2017.