Economic “good news” Obama’s timely strategy
Consistent from the outset and with a little luck, the President anticipated a rough climb out of the Bush legacy to higher economic ground. He cautioned that he may not make it to a second term if his recovery solutions didn’t take hold fast enough. It appears that they are producing results just in time.
I reported this news from Manufacturing.net via AP yesterday. This is more grist.
“The economy got more good news, report Ben Casselman and Jon Hilsenrath: "After more than two years of frustrating fits and starts, the U.S. economy is showing signs of moving onto firmer ground. A host of reports Thursday underscored that point, as well as the perils that persist. The number of Americans filing initial claims for government unemployment benefits has fallen to levels last seen before Lehman Brothers collapsed, the Labor Department said. The stock market, a leading indicator of growth, is off to its best start this year since 1998 and notched more gains Thursday. Meantime, consumer confidence has reclaimed ground lost last year, and another report showed that income growth is firming. However the economy is far from robust. Government and company reports showed consumer spending has been mixed. And the manufacturing sector, though on the rebound, isn't booming, according to a survey of manufacturing purchasing managers by the Institute for Supply Management."
@Neil_Irwin: Quite a good jobless claims number. Down to 351,000, from revised 353k.
@BetseyStevenson: Isn't it lucky that jobless claims get systematically revised up from the past week--we get so many more "jobless claims fall" headlines”
Via Ezra Klein, The Washington Post
Most Recommended Comment
East Harbour, The Bay Islands, Honduras