This is a fantastic question; just not for the reasons you think it is.
Let's say you had a business that sold buttons. Your first year in business you have a difficult time making sales, and you're forced to drop the price of your buttons from $4 to $2 to try and increase demand. You have to do this because people don't have the disposable income to be able to afford more expensive buttons.
A year later you find that so many people are buying your buttons that you can't keep up with demand, so you double the price of those buttons to $4, and they still sell just fine at that price point.
From your perspective as a business owner, which year's economy was better?
From the perspective of the buyer, which year's economy was better?
I'm not saying this correlates to the world economy over the last few years, but it's a simple hypothetical to demonstrate how "good economy" can mean different things to different people. Everything being cheap doesn't in and of itself mean the economy is doing well. When gas was $1.25 a gallon during the pandemic, that wasn't exactly a good indicator of a strong economy now, was it? No, it was an indicator of supply crashing.
It's a complex topic with a myriad of factors ranging from supply, demand, input costs, corporate profits, et cetera...