What To Expect For The 2015 Economy

What To Expect For The 2015 EconomyWhat Does The New Year Mean For The Economy?

Unfortunately, in recent years, many of us Americans have experienced the hardships of the job market. However, our nation’s job market has slowly been improving. An increase in employment may also come with an increase in interest rates for 2015. Gathered is some vital information about the projected 2015 job market and the interest rate forecast.

The Bankrate Economic Indicator surveyed the top United States economists about their hopes for the 2015 economy. The economy experts believe that while the market will steadily improve in 2015, the Federal Reserve will continue asset purchases that will keep the economy on its growing trend.

The Forecast:

  • Unemployment: Economists forecast that the unemployment rate will drop to 5.5, which is lower than the 5.8 unemployment rate that we had in October 2014.
  • Hiring: Job growth is expected to continue, but not very strongly. Economists forecast 219,000 new jobs per month over the 2015-year, which is not much larger than the 214,000 new jobs that were reportedly added in October 2014.
  • Federal Reserve: The survey found that, on average, economists believe that the Federal Reserve will begin to raise interest rates mid-year, starting around June of 2015.
  • Economic Growth: Economists believe the economy’s gross domestic product will expand at a 2.77% rate annually, which is lower than past surveys estimated at a 2.95% annual rate.
  • Treasury: On average, economists believe that borrowing costs will go up with the yield of 10-year Treasury notes reaching 3.17% in the next year.

Keep the economic forecast for 2015 in mind and plan ahead financially. Let us get you the loan you need to stay on your feet as you wait for the economy to improve. For all of your lending needs, contact Avis Lending with locations in Irvine, California and Lahaina, Hawaii.

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