The Fits And Starts Expansion Begins

In two articles titled the Fits and Starts Expansion (here and here) I argued there were five areas of growth for the upcoming expansion. These areas were consumer spending (although at a slower pace than we were use to), exports, inventory rebuilding, stimulus spending and manufacturing would all contribute to the expansion, although none would dominate. Here is a chart that shows what parts of GDP contributed the most to growth in the 4Q.