By UBS analysts | As the US economic recovery completes its fifth year, direct policy stimulus is no longer being applied, but the economy is poised to move ahead on its own self-generating momentum. Real GDP growth is expected at 2.9% in 2015 and 2.8% in 2016. Less slack in the labor market along with accelerating labor demand should soon be accompanied by somewhat faster wage gains to boost household incomes, confidence and spending. A rising industrial capacity utilization rate should help trigger more sustained gains in capex. And a falling residential rental vacancy rate should further stimulate rents and residential construction.