The U.S. economy to 2006 (ABSTRACT), Monthly Labor Review Online, November 1997

The U.S. economy to 2006

Thomas Boustead
Economist, Office of Employment Projections, Bureau of Labor Statistics

Slowing GDP growth is tied to slowing labor force growth. Exports and imports continue to be the fastest growing major components of GDP, with high-technology products leading the way. Exports are projected to grow almost 3 1/2 times faster than GDP, while imports are expected to rise at almost 3 times the rate of GDP. This article examines the projections for the economy over the 1996-2006 period by looking at each sector of GDP in further detail. The sensitivity of the projection to changes in underlying assumptions is examined.

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