As reported, the reasons given for the stagnant economy include “an unusually cold and disruptive winter, coupled with tumbling exports.” Yet some economists remain optimistic that this year “will be the year the recovery from the Great Recession finally achieves the robust growth that’s needed to accelerate hiring and reduce still-high unemployment.”
In this context, scholarly economist John H. Makin at the American Enterprise Institute published an article titled “The limp recovery, five years on” that seeks to explain the current “feeble expansion” and project its prospects for growth in the next year. His prognostications are decidedly less optimistic than those reported in various news outlets.
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