US Economy growing even faster than previously thought

Col. Crackpot · Post by **Col. Crackpot** » 2003-11-25 11:11am

The growth figure from the 3rd quarter of 2003 has been increased by a full percentage point to 8.4%.

http://quote.bloomberg.com/apps/news?pi ... uXEm5y10Uo

theski · Post by **theski** » 2003-11-25 11:16am

Even more good news...

NEW YORK (Reuters) - U.S. consumer confidence (news - web sites) surged to its highest level in over a year, exceeding economists' rosy expectations, as consumers grew more hopeful about the job market, a report said on Tuesday.

http://news.yahoo.com/news?tmpl=story2& ... &printer=1

SirNitram · Post by **SirNitram** » 2003-11-25 11:42am

Is it all still in the Defense branch, or has it branched out?

Col. Crackpot · Post by **Col. Crackpot** » 2003-11-25 12:06pm

SirNitram wrote:Is it all still in the Defense branch, or has it branched out?

CONSUMER spending. CONSUMER confidence

Consumer spending increased at a 6.4 percent annual rate last quarter, the fastest pace in six years, and retailers such as Williams-Sonoma Inc. restocked shelves to help satisfy anticipated sales. A measure of profit widened to a record $739.7 billion, giving companies confidence to increase spending.

furthermore, construction spending is up an amazing 22%!!

Residential construction spending rose 22.7 percent, faster than the 20.4 percent growth the government estimated last month. Construction spending jumped in September to a record as private nonresidential building rose the most in 11 months and housing demand held close to the record high, a government report showed earlier this month.

durable goods sales are also way, WAY up:

Spending on durable goods, including automobiles, rose at a 26.5 percent rate

TrailerParkJawa · Post by **TrailerParkJawa** » 2003-11-25 01:12pm

Consumer spending is essential to our economy. It is good if people spend during the holidays as long as they dont go into debt to do so.

Until the jobs start coming back, its still a blah economy as far as Im concerned. And I mean non-retail jobs.

Joe · Post by **Joe** » 2003-11-25 01:35pm

Spending on durable goods, including automobiles, rose at a 26.5 percent rate

*cough*Depreciation writeoffs*cough*

TrailerParkJawa · Post by **TrailerParkJawa** » 2003-11-25 01:59pm

When interest rates eventually get back to going up, the impact on housing will be interesting to watch. I know in many area's around the country houses have appreciated a great deal in the last few years. At rates higher than most people are used to. So, when rates go up affordability will go down. Im not sure how this will unfold where I live. Houses are unaffordable at any rate, but there are enough buyers who can afford it so prices stay up.

Stormbringer · Post by **Stormbringer** » 2003-11-25 02:07pm

Col. Crackpot wrote:
SirNitram wrote:Is it all still in the Defense branch, or has it branched out?
CONSUMER spending. CONSUMER confidence

Bah, that's just the NRA stocking up for when Bush declares himself Emperor and begins his iron fisted rule. *cue Imperial March*

Andrew J. · Post by **Andrew J.** » 2003-11-25 03:57pm

Stormbringer wrote:
Col. Crackpot wrote:
SirNitram wrote:Is it all still in the Defense branch, or has it branched out?
CONSUMER spending. CONSUMER confidence
Bah, that's just the NRA stocking up for when Bush declares himself Emperor and begins his iron fisted rule. *cue Imperial March*

Uh...is that going to be to fight it or support it?

Stormbringer · Post by **Stormbringer** » 2003-11-25 04:09pm

Andrew J. wrote:
Stormbringer wrote:
Col. Crackpot wrote: CONSUMER spending. CONSUMER confidence
Bah, that's just the NRA stocking up for when Bush declares himself Emperor and begins his iron fisted rule. *cue Imperial March*
Uh...is that going to be to fight it or support it?

Only the VRWC knows.

LordShaithis · Post by **LordShaithis** » 2003-11-26 05:53am

[democrat] NO, THE ECONOMY IS BAD, AND WILL REMAIN BAD UNTIL JANUARY OF 2005... provided we win the election. [/democrat]

Col. Crackpot · Post by **Col. Crackpot** » 2003-11-26 07:23am

GrandAdmiralPrawn wrote:[democrat] NO, THE ECONOMY IS BAD, AND WILL REMAIN BAD UNTIL JANUARY OF 2005... provided we win the election. [/democrat]

It's funny, everyone knows the economy is recovering now, and if by some hop-head chance at the LAPD ball, a democrat wins the election i guaran-fucking-tee that a month after the innaguration he will proudly proclaim "uummmmduhhh golly gee look! I fixed the economy! George bush broke it, and i plum fixed it! Yay me!"

theski · Post by **theski** » 2003-11-26 08:19am

EVEN MORE GOOD NEWS!!!!

PARIS (Reuters) - Years of stagnation are over for the global economy and a strong economic recovery is well under way in the United States, where the "animal spirits" of times past are back in action, the OECD says.

In its twice-yearly Economic Outlook, the Organisation for Economic Cooperation and Development on Wednesday predicted pacy growth of 4.2 percent in the U.S. economy in 2004 after 2.9 percent this year -- compared to a paltry 0.3 percent in 2001 for example.

Japan is poised to pull out of the doldrums with growth of 2.7 percent this year and 1.8 percent in 2004 but the 12-nation euro zone will get off the ground a bit more slowly with growth of 0.5 percent this year and 1.8 percent in 2004, the OECD said.

"We're at last seeing recovery in both the United States and Japan," OECD chief economist Jean-Philippe Cotis told Reuters in an interview about the report.

He predicted that the main central banks would

World economic slump over

http://www.reuters.co.uk/newsPackageArt ... on=finance

Post by **Darth Wong** » 2003-11-26 11:33am

Ever since the Dot-Bomb Crash, we've run into optimistic signs of an impending boom several times. They have flamed out. Maybe this one is different, and maybe not, but don't blow your load too soon.