It’s the first time in many years that world economies are growing in sync. After the 2008 recession, Europe was mired in its own debt crisis, so even though the U.S. was slowly recovering, the rest of the world was not taking part in the rebound. Now, it’s different. This year’s widespread global economic strength is arguably the most important factor behind the U.S.’s own quickening pace and sizzling stock market.
“Overseas economies have been looking better all year. The surprise is that hardly any countries are struggling. Deutsche Bank economist Torsten Slok points out that the International Monetary Fund forecasts only six of 192 countries will register an economic contraction next year. That would be the fewest on record.”
Justin Lahart, “Economy Still Has Room To Grow,” The Wall Street Journal, December 4, 2017