Expert’s Corner: The Government Market in 2013

The U.S. economy and government budgets appear to be getting stronger at the start of 2013. The economy grew at an annual rate of 3.1 percent in the last quarter of 2012, which was the fastest quarterly growth since late 2011, according to the U.S. Commerce Department. Exports increased at a fast pace in the third quarter of 2012, as did consumer spending. In addition, employment rose in several sectors and the U.S. housing market appears to be on the mend.

An improving economy could translate into increased government spending. In 2013, government purchases of goods and services will reach $3.08 trillion, up slightly from $3.07 trillion in 2012, according to Lexington, Mass.-based economic forecaster IHS Global Insight. Of that amount, federal government purchases of goods and services will total $1.2 trillion in 2013, while state and local government purchases will reach $1.88 trillion.

Click Here for full article