Much of that feeble growth will come from a turnaround in the inventory cycle as companies stop de-stocking at the scary rate that exacerbated the recession in 2009.

ECONOMIST: The economy after the election

Firms slowed their stocking sharply, knocking maybe three percentage points off the economy's growth rate a huge shift but, again, more a rebalancing than the sign of an imminent downturn.

ECONOMIST: Is America��s economy too hot, too cold, or just right?