In a steady crunching beat over crispy snow it’s one foot after the other. Head down to measure every step for solid footing before the next careful crunch. There’s nothing but grey sky tinkled with flakes if you bothered to look ahead anyway. Most of the US has experienced that this December, but the economy has been doing that for at least four years now. And like a brisk and noisy walk through the cold eventually you find that you have actually gotten somewhere.
Along with the blustering weather news that has dominated this month there has been a lot of good economic news. Most recently the growth in GDP for the third quarter came in at a rosy warm 4.1%.. The National Retail Federation tells us that the holiday retail season is indeed going to come in with an impressive 3.9% growth over 2012, the high end of predictions. But not everyone thinks the future is so bright. It’s worth running down the reasons for both naughty and nice economic news for next year.