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Cyclical strength in other industrial economies, strong demand for information and communication technology, and a weak euro all buoyed the emerald isle's fortunes.
Some economists, like Robert Gordon of Northwestern University, argued that much of the increase in productivity had to do with the cyclical strength of the economy, and that any additional gains were being made by the producers of computers, not their customers.
"We anticipate an extended plateau of cyclical strength through 2008," McCarthy wrote in a report to investors.
In keeping overall profitability high, it helps to have a balanced system, where seasonal or cyclical strength in one area can compensate for weakness in another.
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But the risk that mixed signals will further roil markets is high: the Federal Open Market Committee is divided on the wisdom of QE and may be even more so once up to five of its 19 seats may turn over in the coming year.Even as a cyclical recovery gathers strength in 2014, structural drags will become more apparent.
Many investors viewed the strength in cyclical stocks — those closely tied to the pace of economic growth — as a sign that the rally still has staying power.
Economists say the industry's outlook is a guide to the strength of cyclical recovery in developed markets and growth in emerging economies, which rely heavily on air transportation.
Conclusion: Cyclical electrical stimulation increases strength and improves activity after stroke.
The Dow Jones Industrial Average is slightly higher, helped by continued strength among cyclical issues and industrial heavyweights.
[Nascimento LR, Michaelsen SM, Ada L, Polese JC, Teixeira-Salmela LF (2014) Cyclical electrical stimulation increases strength and improves activity after stroke: a systematic review. Journal of Physiotherapy 60: 22–30].
The American economy appears to be in a cyclical recovery that is gaining strength.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com