University of Michigan economists are optimistic about the how the U.S. economy will play out in 2016, The Washington Post reports.
“They expect real gross domestic product to grow 2.6 percent next year and 2.9 percent in 2017,” the article says. Optimism comes from upticks in residential construction, a tightening labor market that delivers wage increases to workers, and the peak strength of the U.S. dollar.
This optimism comes amid what the Post calls “gloom and doom” outlooks for the American economy—a growing number of economists foresee a recession in the near future, and only 1 in 5 Americans believes the economy is getting better.
