The U.S economy grew at 1% in the fourth quarter of 2015, down from 2% in the third quarter of last year. Greg Braca, head of corporate and specialty banking at TD Bank (TD), said increased spending from gainfully employed consumers will cause growth to pick-up this spring. ‘We are seeing a lot of strength in the consumer segment, we do see that there is going to be investment from corporations, M&A and real estate continue to be strong so 2% to 3% growth is a reality,’ said Braca. Braca said U.S. consumers finally appear to be dipping into their accumulated savings from a year’s worth of low gasoline prices and rising wages to spend on discretionary items like clothing and electronics. He added that home sales are also expected to rise heading into the spring selling season.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
