Markets & Economy

Expect the ‘longest economic expansion’ since WWII, says economist

Don't hold your breath for a recession anytime soon, says Cushman & Wakefield's global chief economist
  • Kevin Thorpe, global chief economist at Cushman & Wakefield, thinks there's little cause to worry about a recession in the next couple of years.
  • Consumer confidence is high, and although the government is experiencing gridlock in Washington, D.C., Thorpe expects at least a few of President Trump's financial policies to pass.
  • There's a labor shortage that's more acute than we've seen in years, and office space is being overbuilt.

Kevin Thorpe | Photo by Amber Taufen DENVER -- "This is going to be the longest economic expansion in the post-World-War-II era," stated Kevin Thorpe, the global chief economist at Cushman & Wakefield. He was giving an assessment to a crowd of reporters at the National Association of Real Estate Editors conference, and the general message was one of growth -- not risk. Recession? "The U.S. will not be going into recessions anytime soon," Thorpe said. "Recessions don't just happen," he added. "First we need to see imbalances somewhere in the economy -- too much credit, too much exuberance in any particular sector." Equity markets, oil prices, what the Federal Reserve does with interest rates and "wild cards" could change that, of course, but in general, Thorpe was confident that the economy is strong and will remain so for the immediate future. "Of course there will be another recession at some point, and the next question becomes 'What will the next recession look ...