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Businesses will respond to stronger consumer demand and easier financing by boosting investment and creating new jobs.
Household debt is still high by historical standards, but the ratio of debt to G.D.P. is way down from its peak, setting the stage for stronger consumer demand looking forward.
It's also possible that revenues will be higher than expected due to a stabilized housing market and stronger consumer demand, he said.
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And strong consumer demand needs a central bank response.
Strong consumer demand has to be part of that equation, too.
But it is not yet clear how strong consumer demand will be.
Strong consumer demand has played a major role in driving growth in recent years, but has also helped fuel inflation.
"There's strong consumer demand, good mortgage lending and that's allowing us to build and sell plenty of homes".
Imports coming into the country, fed by continued strong consumer demand, also generate business at the ports.
Preliminary retail sales figures surged for January, and General Motors and DaimlerChrysler reported unexpectedly strong consumer demand for the month.
India's industrial output climbed 7.2percentt in March compared with 5.1percentt in February, helped by strong consumer demand.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com