"industrial production in the US reached an all-time high last month, and it has made impressive strides since late 2016. The Eurozone, in contrast, has stalled and weakened on the margin, as uncertainty over the future of the EU, coupled with an oppressive tax and regulatory environment, has plagued sentiment and confidence. China has slowed down as well. Most data point to the Chinese economy growing at its slowest pace (4-5% or even less) in over two decades, and the stock market is down some 30% in the past year. For that matter, it is hard to name any country outside of the U.S. that is enjoying healthy growth. Does this mean the U.S. is doomed? Or does it just mean that conditions here are so favorable that we are likely to once again be the world's engine of growth in coming years? As an optimist, I'm inclined to the latter interpretation; in my experience it always usually pays to give the U.S. economy the benefit of the doubt."
(Key economic indicators are mostly positive dated 01/14/2019 by Scott Grannis, Chief Economist at Western Asset Management from 1979-2007, via scottgrannis.blogspot.com)
Full article can be read here: http://scottgrannis.blogspot.com/2019/01/key-economic-indicators-are-mostly.html