America’s economy is booming. Why aren’t its bosses happier?

Good news about America’s economy seems to keep rolling in. In the third quarter, gdp expanded by a barnstorming 4.9% in annualised terms. Heading into earnings season, the month or so each quarter when most firms report their latest results, a stream of upbeat economic figures led stockmarket analysts to hold their profit expectations for the quarter steady, rather than trim them like normal. Many called the end of America’s…