“Happy New Year” may be more than a customary greeting. As we head into 2015, the U.S. economic expansion, which began 22 quarters ago, is likely to continue to gain momentum into the New Year. The most recent estimate of third quarter 2014 gross domestic product was revised upward to a 3.9 percent real growth rate, following an increase of 4.6 percent in the second quarter.* Manufacturing activity in November remained near 10-year highs, consumer confidence has returned to pre-crisis levels, and annual job growth in 2014 will approach three million – the best in a decade and a half. The unemployment rate, currently at 5.8 percent, is on track to drop below 5.5 percent in the next six to nine months, which could drive more growth.