Technology purchases by businesses account for much of the expansion, but sales in all traditional equipment categories also have been at record levels for the past few years. Growth in equipment sales will not continue indefinitely because companies have a finite need for equipment. Agricultural equipment sales are already turning down in response to the difficult times faced by farmers in recent years. Although a pocket of inflationary pressure exists, it has not spread to the economy generally. High labor productivity.
Workers are more productive, thanks to the new equipment purchased by their employers.
Good asset markets. Even with the stock market flattening out, asset markets remain good and real estate markets are generally healthy. Federal budget surplus. The elimination of the deficit helps to keep interest rates lower, which, of course, is good for economic growth. And it could happen quickly.