U.S. Public Finance 2018 Year In Review

Source: S&P Global Ratings, December 17, 2018
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The economic recovery in the U.S. hit a turning point in 2018, starting its tenth year and becoming the second longest on record. The recovery has not broken any records for speed, however, and the slow pace has been a significant factor for credit conditions in U.S. public finance. The economic expansion in 2018 has been an anomaly with a surge in growth driven largely by tax reform and federal spending.