Gains Expected for 2014-2015 Says Economic Report

Released in time for campaign season, President Barack Obama’s advisers have released their annual Economic Report of the President — a document forecasting the economy for the fiscal years of 2014-2015. With stats showing the unemployment rate has dropped to a five-year low, the housing market improving and the economy growing 1.9 percent throughout 2013, the report states the U.S. economy is expected to strengthen within the next two years.

According to the document, the GDP is predicted to produce its best results in more than eight years — expanding 3.1 percent in 2014 and 3.4 percent the next. The President’s report also estimates the unemployment rate will average 6.9 in 2014 and then drop to 6.4 percent in 2015.