07.12.2012 - Charles Schwab: Housing market recovery will underpin the economy
The housing market is recovering from its collapse to such an extent that it will be one of the key drivers of the economy next year, and could add as much as 1 percentage point to growth, says Liz Ann Sonders, chief investment strategist at Charles Schwab & Co. Inc. A recovery in U.S. manufacturing, supported by better demand from emerging markets and improved consumer spending, will also contribute to growth. Those factors will be enough to counter the headwind of declining government spending...............................................Full Article: Source
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