Expert assesses U.S. economy is in "very good health," predicts growth in 2024

Despite the impact of increased cost of living, the U.S. economy is performing strongly overall. 

Dr. Fynnwin Prager, Associate professor of public administration and co-director of the CSUDH South Bay Economics Institute, is available to discuss public perceptions about the economy and the outlook for 2024. 

QUOTES:

"By most measures, the economy is in very good health. Unemployment remains low (3.7%), and jobs keep being added (216,000 in December 2023, though trends are downward). Inflation has stabilized to normal levels after the post-COVID bump. Output continues to grow (2023 Q3 Real GDP was an impressive 4.9%). Consumer confidence remains high and has jumped recently. Stock markets recently hit record prices."

"There are some nagging concerns, including manufacturing output slowing and opinion polling on economic performance suggesting concerns, which may feed into political voting. Nonetheless, most macroeconomic forecasts project the economy to continue growing through 2024, though at modest rates (0.8-1.5%)."