On the up side: The million-plus jobs added to the U.S. economy during the first half of 2013 is contributing to a more vibrant retail and housing sector, and U.S. travel and
tourism spending will reach an all time record high this year. And with more people now working, the stock market rising sharply this year and housing values soaring, consumers are feeling wealthier in 2013, and that’s supporting retail store sales, auto purchases, home purchases, and spending on travel.

In Summary: Expect the sluggish growth in the U.S. economy to continue
through the summer. Ditto the performance of the U.S. Stock Market. The creation of jobs will accelerate later this year. QE3 will likely remain unchanged, at least into September if
not later into the 4th Quarter of 2013. Longer term interest rates will stay low but not retreat any further. Inflation is likely to average between 2.0 and 2.3 percent this year.

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