The US recovery since 2009 has underperformed previous recoveries with the decline in real public spending accounting for half of the underperformance. The other important factor is the deleveraging in household.

For the corporate sector the recovery has been pretty average – on average. Inflated debt levels remain a headwind for the US economy.

 

Report:

The Anatomy of a Recovery

 

Related reports:

United States 2018 outlook