US Economics Quarterly – Part 1

The US economy is gradually but convincingly moving through the credit cycle to a healthier phase. Whereas credit creation over the past three years has been inadequate in the wake of a deleveraging cycle and has dampened activity, it is now returning to a firm rate of growth justified by stable and improving household, business, and bank balance sheets.

In upcoming quarters, we expect that a sustained upturn in the credit cycle, driven by the private sector, will act as a “financial accelerator” and propel the US economy more assuredly through the business cycle.

Please review our US Economics Quarterly in which we analyze the key opportunities and risks for the US economy: US Economics Quarterly – Part 1

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