Potential perils are in plain sight: An intense and unpredictable tariff battle is alarming businesses across the country. The annual federal deficit is heading toward $1 trillion. Credit card debt is soaring. And the synchronous wave that lifted every world economy at the year’s start has dissipated.
Such risks have done little to puncture the exuberant optimism that is encouraging American businesses to ramp up hiring and consider new investment.
The confidence is rooted only partly in hard-nosed data, like the rapid pace of growth expected for the second quarter and record low jobless rates. It is also a sign of harder-to-measure sentiment. “Animal spirits are high,” said Tim Ryan, United States chairman of the global accounting and consulting firm PwC, referring to the gut feelings and impulses that can drive economies to elation or despair.So what's it like where you are? Where I am, things seem pretty good, and we expect to have a decent year next year. Who knows what 2020 brings?
I expect GDP numbers in 2019 to be lower than 2018's, but my crystal ball is pretty fuzzy. Yours?