First, the bear case for those in the middle of 2024 planning: Several U.S. sectors might be in recession, growth is rolling over in other parts of the world and inflation could soon be climbing again. Plus, Oxford Economics said this week, positive manufacturing data could prove to be ephemeral due to “weakening goods demand, elevated interest rates, tighter lending standards, inventory destocking and the strong U.S. dollar.” Lots to digest and overcome there.

And yet, digesting and overcoming is what this economy has been doing for the past three years. The bull case says that will continue as wage gains persist, structural investments power productivity growth and struggling industries (think homebuilding) cycle out of their troughs. Heck, even the dentists are no longer playing it safe.

Q3 growth looks to be higher than anyone forecast. That is boosting confidence among consumers and producers alike. As one expert put it in the lead story below: CFOs “had a feeling this was coming.” Now it’s time to capitalize.

– Geert De Lombaerde