The headwinds buffeting the US recovery – impaired household balance sheets, a depressed housing market, and government spending and employment cuts – are dissipating. Household debt has fallen to levels last seen in the early 1990’s, real household net worth has returned to its pre-recession peak, and residential investment as a share of GDP is rising.
尽管最近两期的就业报告都没有亮点可寻，但仍有许多理由可以期待2014年会有增长加速。影响美国复苏的阻力——被破坏的家庭资产负债表、萧条的住房市场以及政府支出和就业的下降——正在消失。家庭债务已经降到20世纪90年代初的水平，实际家庭净值已经回到了衰退前的峰值水平，住房投资占GDP的比例也在上升。