"Unspectacular Growth: The Next Stage of the US Economy"

The US economy is expected to experience "unspectacular growth" according to Goldman Sachs chief economist Jan Hatzius, who predicts that gross domestic product (GDP) will remain positive. Recent data on retail sales and job additions support this outlook, showing modest growth. Goldman Sachs and Morgan Stanley have both revised their estimates for a recession, citing better-than-expected data and strong consumer spending. While concerns remain about the impact of dwindling excess savings on consumer spending, real personal disposable income growth is supporting consumption. Overall, the economy is expected to continue growing, albeit at a moderate pace.