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From all indications, the US economy appears to be stuck in neutral. Ray Perryman of the Perryman Group summed it up nicely with a comment attached to his forecasts, which cites an air of caution. That caution can be attributed to a whole host of factors including: Concerns over Europe, the looming domestic fiscal cliff, tension in oil-producing regions, a marked slowdown in the Chinese economy, and, of course, the upcoming election. The difficulty with this assessment is that there appears to be little relief in sight or even across an extended view over the horizon. The Consensus Outlook calls for real GDP to grow at a 1.7% rate over the next four quarters. Current PDI and PCE are expected to grow 2.4% and 3.3%, respectively, over the same time frame. A notable point in the forecast is that the Consensus does not have the nation's unemployment rate declining to under 8% until next fall.