A Remarkably Resilient Economy

Check out the accompanying pdf and chart collection. Executive Summary: Interest rates have been ascending and the tight labor market has been a problem for companies this year and last, but the US economy has been robust regardless. Today, we look at what accounts for its unusual resilience. … Hoisting the economy has been strength in the construction industry, especially multi-family, home improvement, and nonresidential building. … Also contributing to the economy’s resilience has been US corporations’ awesome cash generating capability. … And good news for next year: Signs are mounting that the rolling recession in the goods producing sector of the economy is bottoming and should give way to a rolling recovery in 2024.