Full-year gross domestic product has been sluggish since the recession ended, and free-spending consumers are the greatest hope for more rapid expansion, The Wall Street Journal reports.
“In our bull case, households pick up the pace of spending more than expected,” Ellen Zentner, chief U.S. economist at Morgan Stanley, told The Wall Street Journal. “Seeing the sustained pickup in demand and expecting more, business investment accelerates and cyclically depressed productivity rebounds closer to historical norms.”
