The good news is that the economy is flourishing despite the bad news.The good news is that the economy is flourishing flour·ish v. flour·ished, flour·ish·ing, flour·ish·es v.intr. 1. To grow well or luxuriantly; thrive: The crops flourished in the rich soil. 2. despite the bad news. The Fed has been raising interest rates, oil and commodity prices have skyrocketed, uncertainties about the Middle East have contributed to terrible consumer sentiment, and the housing market is no longer a source of strength. Yet real GDP Real GDP This inflation-adjusted measure that reflects the value of all goods and services produced in a given year, expressed in base-year prices. Often referred to as "constant-price", "inflation-corrected" GDP or "constant dollar GDP". growth was a whopping 4.8 percent in the first quarter. The job market is strong, with over 200,000 jobs added in March and an unemployment rate of 4.7 percent, down from over 6 percent in the middle of 2003. And there are no signs that the growth is petering out. Indeed, durable-goods orders advanced 3.4 percent in February February: see month. and 6.1 percent in March. These orders will generate shipments and substantial output growth in the second quarter. The vigor VIGOR Internal medicine A clinical study–Vioxx GI Outcomes Report comparing a proprietary COX-2 inhibitor to standard NSAIDs of the economy in the face of negative forces is truly a marvel. Imagine how sweet things will be when the Fed stops increasing interest rates, oil prices decline, and the lion is cuddled up with the lamb. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion