Industry News

U.S., world economies poised for boom

Conference Board suggests tech, manufacturing investment may exceed gains of early '90s

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The U.S. and major world economies are on the threshold of a genuine economic boom and will likely record their best years since 1984, according to The Conference Board's latest economic forecast released Monday. The Conference Board said U.S. growth will reach 5.9 percent this year, while global growth will hit about 5 percent. Most parts of the world are growing at 6 percent or better, although Europe and Japan are lagging in the 3 percent range. This number still reflects healthy growth for both of these regions. "Rapid top-line growth and bottom-line productivity benefits mean that near-term profit growth will be huge," said Conference Board Executive Vice President and Chief Economist Gail D. Fosler in the latest issue of StraightTalk, her monthly newsletter prepared for Conference Board member companies. "The U.S. economy and world economies continue in the virtuous phase of a strong economic cycle in which accelerating growth generates productivity and profits and rising emp...