US manufacturing seen expanding: economist

Feb 21, 2014 | 11:11 AM | Catherine Ngai

Tags  U.S. economy, manufacturing, employment, Daniel C. North, Euler Hermes, Metals Service Center Institute, Catherine Ngai

PHOENIX — The U.S. economy is facing a number of headwinds in 2014, including tax burdens, structural unemployment and overregulation, although a strong manufacturing sector coupled with certain strong end markets is underscoring modest growth, according to one economist.

Calling 2014 a year of "cautious optimism," Daniel C. North, chief economist at Baltimore-based Euler Hermes, told participants at the Metals Service Center Institute’s Carbon Conference in Phoenix that global growth is predicted to be around 3.1 percent this year vs. 2.3 percent in 2013.

"Most of that is from emerging markets like China and India," he said. "The eurozone has just come out of a recession and we’re expecting growth of around 1 percent there. In the U.S. (market), we expect to see more anemic and modest growth in 2014, which will be better than 2013." ....

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