Six years into the recovery from the financial crisis, to say the U.S. economy is on the rise isn't enough. At this point, much of the data trotted out doesn't surprise. Existing home sales are climbing. The Federal Reserve reported that industrial production increased from April to June at the highest pace in almost four years. Jobless claims are falling, and the unemployment rate is at a six-year low.
So is America's economy finally getting on track? One look at the latest YPO Global Pulse Confidence Index provides arguably the best reason to be bullish, precisely because it's based on a data point we've been anxiously waiting to see join the recovery: a big increase in capital spending.