Lending Slowdown Won’t Derail U.S. Economy

NEW YORK — Call it the Great Divide: The new year figures to be one of robust economic growth in the U.S., with slowdowns, stagnation and setbacks everywhere else in the world.

The list of global problems is indeed long and worrisome. Europe and Japan teeter on the edge of recession. Russia careens toward a full-blown economic crisis. China's once-torrid growth is slowing faster than previously forecast. And many emerging economies are getting slammed by plunging oil prices.

All the overseas problems put together, though, are not enough to derail a strong U.S. economy, Wall Street analysts say. The Commerce Department stunned markets Dec. 23 by reporting that the nation's total economic output grew at an annual pace of 5% in the third quarter. The result blew past an already strong estimate of 3.9%.

"Spirits unleashed," was how Mark Zandi of research firm Moody's Analytics Inc. described the U.S. economy even before the final estimate for the third quarter came in.


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Source : http://www.latimes.com/business/la-fi-global-economy-outlook-20150103-story.html

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