Blackstone Group economic prognosticator Byron Wien thinks there's plenty of reason for optimism in 2015.
"Looking ahead, there is reason to think that the present favorable trends will continue," the vice chairman of Blackstone Advisory Partners wrote in a monthly outlook note.
Wien cited higher employment, growing consumer and retailer confidence, lower gasoline prices and subdued inflation as reasons.
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Wien said factors to watch are housing and capital spending.
"Recent data showing higher paychecks for younger workers should help the former and improved small-business confidence should help the latter," he wrote.
For economic worries, Wien cited the possibility of Europe falling back into recession, driven by a slowdown in Germany and lower demand from Russia.
"Hopefully Mario Draghi and the European Central Bank will become more accommodative and provide the funds necessary to keep Europe on the modest growth path," he wrote.
Like in Europe, Wien said he hopes for continued economic stimulus in Japan and China.
Wien also said he worries about potential conflict between Russia and Ukraine and in Israel and the South China Sea.
"The major uncertainties at this time seem more geopolitical than economic," he wrote.
Blackstone, an investment and advisory firm best known for its private equity offerings, managed $284 billion as of Sept. 30. It has 2,000 employees in 24 offices globally, according to its website.
