North America Economic Research
Special Report: The hangover: a muted recovery for US consumers

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• In the aftermath of the financial crisis, the household saving rate is expected to drift higher and deleveraging to continue Rising labor income and a reduction in fear set to produce a 2.5% spending gain, well below the expected 3.6% pace of US GDP growth Risks are shifting to the upside: the saving rate has stabilized in recent months and model estimates point to a modest fall in the saving rate in 2010

See Full Article Here:http://img.scoop.co.nz/media/pdfs/1001/JPM__Special_Report__The_hangover__a_muted_recovery_for_US_consumers___20100129_367685.pdf

ENDS