Economic Outlook: Global Weakness Will Likely Be A Drag On The U.S. Recovery In 2016

The U.S. economy is likely to be in a similar shape this year as it was in the past year. Solid growth in the labor market and consumer spending will support further recovery, while exports will continue to be a drag. In the current environment, characterized by weakness across the globe and particularly in China, fiscal prudence will become indispensable as Fed continues down the road of monetary tightening.