Economy Lifting Most U.S. Cities as Growth Quickens, Report Says
By William Selway - Jan 22, 2014
Nearly every U.S. city’s economy is projected to grow this year, including areas that struggled to rebound from the recession, according to a report released by the U.S. Conference of Mayors.
All but seven of 363 metropolitan areas will see economic gains as the national expansion accelerates, according to the report today prepared by IHS Global Insight, an economic analysis company. That would mark a shift from 2013, when about one-fourth contracted despite national growth.
“We’re in the real recovery, not just the recovery that economists talk about,” said Mayor Scott Smith of Mesa, Arizona, president of the mayors group, in an interview. “We see light at the end of the tunnel.”
The economy expanded during the third quarter at the fastest since 2011, driven by increases in consumer spending and business investment, and forecasters estimate that growth will accelerate this year.
While the nation has yet to recover all the jobs lost since the 18-month recession that began in 2007, the gains this year should be felt broadly across the country, according to the report. Nearly all metropolitan areas are projected to gain jobs in 2014, while 340 will see economic growth of 1 percent or more this year, up from 183 in 2013, the mayor’s group said.
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http://www.bloomberg.com/news/2014-01-22/economy-lifting-most-u-s-cities-as-growth-quickens-report-says.html
