December 13, 2017
By Many Measures, America Has Fully Recovered
Stocks at Record Highs, Unemployment at Multi-Year Lows
Issue 21 – Third Quarter 2017
For the first time in a decade, economies throughout the world are experiencing a synchronized economic expansion, meaning that all of the world’s major economies, whether developed like France or developing like Brazil, are expanding simultaneously. Driven primarily by consumer spending, the U.S. economy entered its ninth year of recovery several months ago. We are in the midst of the third longest expansion in American history and the pace of growth has been accelerating recently.
Table of Contents
- By Many Measures, America Has Fully Recovered
- Exhibit 1. Nonresidential Spending, September 2017
- Joe’s View
- Exhibit 2. Construction Employment Growth, 20 Largest U.S. Metropolitan Areas, October 2016 v. October 2017
- Exhibit 3. Nonresidential Construction Spending, September 2015 through September 2017
- Third Quarter 2017 Performance
