Ron Insana at SPECS: Economy in good shape

New York — The economy is in better shape than many people think — especially when you look under the hood at some of the parts, CNBC senior analyst Ron Insana told attendees at Chain Store Age’s 50th annual SPECS show. Insana was a keynoter at the event, which was held at the Gaylord Texan Hotel, Grapevine, Texas, March 9 – 12, and brought together retail executives in store planning & design, construction and facilities. Attendance was up 25% over last year's year's show.

“The United States economy is actually performing quite nicely,” Insana said. “If you look around the world, no one else comes close.”

China’s growth is slowing more than anyone realizes, Insana said, while India is not doing nearly as well as anyone expected.”

“The emerging markets are acting badly as a group,” he added.

Looking ahead, the CNBC analyst predicted the U.S. will have a better balanced economy, one that is much more reliant on the production of goods and services than financial services.

“I am concerned,” he said. “That our kids are not going to be fully prepared for the kind of jobs we will see.”

Citing the nation’s growing energy development, the 3D printing revolution and the rebound in manufacturing, Insana said the United States is becoming increasingly self-sufficient in a number of ways.

“Over the next three to 10 years, I think the United States will become a standalone economy,” he added, or what he described as a “fortress America.”

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