The causes of economic growth are complex and in the long term not easily understood, a prime example of that being how badly wrong long-term predictions tend to be. If there is a hero in this expansion, it is the American consumer. The Conference Board, a business think tank, says consumer confidence approaching year's end is the second highest on record, 141.4 on its index compared to the record 142.3 set in October 1968. Consumer spending powers about two-thirds of the economy, and there are fears that consumers may slow or stop purchasing either because they've maxed out their credit or because they've bought all the stuff they could want. As yet, there are no serious signs that that's about to happen.
Economists can always find worrisome omens.
But, as far ahead as anyone can realistically see, the signs are that the economy is good to go at least through mid-2000. Not a bad way to start the new century. E.W. Scripps Publications , All Rights Reserved. Site users are subject to our User Agreement . We also have a Privacy Policy .