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Congressional Budget Office Projects 3.1% Growth for U.S. Economy

Government spending, tax cuts and faster growth in private investment are expected to help the U.S. economy grow by 3.1% this year, according to the Congressional Budget Office (CBO). Still, the nonpartisan group’s report also pointed out the economy’s robust growth may stall next year once temporary government policies expire.

The CBO projects economic growth will slow to 2.4% in 2019 and to 1.7% in 2020, a level the group projects it will remain over the next decade.

Economists called the acceleration of growth “significant.” Decision Economics’ Allen Sinai told the Washington Post, “A year or so ago, 3.1% in annual growth did not look doable. But it has happened.”

Employees may also be in for brighter news, notes the CBO report. Wages and benefits are projected to be on a faster track, according to the index. The CBO said, “The increased demand for labor and competition for workers boost the growth of hourly labor compensation.”

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.