It's a fraught matter saying anything positive about the American economy, given the objective situation. GDP growth seems to be stuck below trend, and recent employment growth has been too slow to bring down the unemployment rate. For much of August and September, shocks threatened to knock the economy from a spluttering stall into an outright nosedive. No one thinks this economy is good. And yet, it's difficult to avoid noticing a hint of positive movement in the data.

Source: The Economist

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