Play It Again, Uncle Sam

摘要

A year ago, we marveled at the seemingly endless growth in this economic cycle. Last year marked the seventh consecutive year of economic growth. Growth was expected, but the rate of growth was not. Our own year-ago forecast called for a slower rate of growth in the U.S. gross domestic product, cooling down to 2.3 percent after hitting 3.9% in 1997. This was very much a mainstream forecast, echoing the expectations of many other forecasting institutions.