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Opinion: The Economy Isn't as Bad as You Think
By not in system - AOL News(July 2) -- Turn on the financial stations, in fact turn on almost any news channel, and when the topic gets to the economy, it's enough to make almost everyone turn away. Doom and gloom is pretty much all you'll get. And no wonder. The stock market is down almost 15 percent since late April. Ten-year Treasury notes are yielding less than 3 percent, which is not much more than the interest rate that prevailed in very late 2008 when many thought the entire financial system and economy were on the brink of a total collapse. Meanwhile, a wide variety of economic indicators has been coming in ...
Consumer Spending Weak in April, More Evidence of Slow Recovery
By Tom Diemer - Politics DailyTake a couple of aspirins and get plenty of sleep, you'll feel better in the morning. That could be a prescription for the discouraging state of the U.S. economic recovery, which saw weak consumer spending in April and only a small advance in personal income, according to the Commerce Department . Economists had hoped for a 0.3 percent lift in spending -- but it remained flat last month -- and a 0.5 percent gain in incomes, which instead rose only 0.4 percent, the Associated Press reported Friday. The personal savings rate climbed 3.6 percent -- a positive sign in good times but worrisome ...
Recovery Growing? Retail Sales Rise in March as Shoppers Reemerge
By Tom Diemer - Politics DailyRetail sales climbed 1.6 percent in March as shoppers emerged from the winter doldrums to buy automobiles and other goods in a broadening of the economic recovery. The March jump in sales was the best showing since last November and followed February's 0.5 percent increase, the Commerce Department said. The picture brightened especially for the automobile industry last month. Motor vehicle and parts sales were up 14.1 percent from March of 2009, the government said. In all, retail and food sales in the U.S. amounted to $362 billion, possibly reflecting better weather in many parts of the ...
Signs Indicate Consumer Mood Is Improving
By Christopher Weber - Politics DailyConsumers are starting to open their wallets again, as new economic figures show a rise in factory output, a slightly better jobs picture and increased retail sales. Americans aren't just buying necessities; they're beginning to once again purchase bigger-ticket items like clothing, cars and jewelry, The New York Times reported. More than a year after the late 2008 economic meltdown, people are saving a bit less and spending a bit more -- a trend economists say could help drive the recovery. Retailers reported better-than-expected earnings in recent periods and more positive news is ...
Consumer Spending: As American as Apple Pie?
By Linda Kulman - Politics DailyWhile I understand little of economics, having relied on the kindness of my college friends to get me through Econ 101, my eye nonetheless landed on a news item today that personal spending this past January rose by 0.5 percent -- more than had been anticipated -- while personal income growth had crept up only 0.1 percent. This discrepancy roughly fits a scenario my father used to describe when I was young "as too much month left at the end of the paycheck," a shortfall my mom inevitably addressed by serving up cost-saving tuna-noodle casserole with potato chips crumbled on top. ...
Hope Sinks: The Emotional Toll of Unemployment
By Joseph Schuman - AOL News(Feb. 23) -- More Americans are giving up hope they can find full-time work amid the persistently ailing U.S. jobs market, and that spells trouble for the very economic recovery that could help them. Three surveys out Tuesday show consumer sentiment is down starkly from just a month ago thanks to job worries and illustrate the toll underemployment is taking on the economy: More consumer worry usually equals less spending. A Gallup Poll of 20,000 adults in the U.S. work force indicated nearly 20 percent were working part time in January because they couldn't find a full-time job or had no ...
Top Economists Say Recovery is 'Firmly on Track'
By David Sessions - Politics DailyTop forecasters are encouraged by the U.S. economy, according to a new survey of 48 economists by the National Association for Business Economics, CNN Money reports. The group predicted that the economy will grow 3.1 percent in 2010 and 2011 -- just slightly lower than their prediction in November. Corporate earnings will grow 15 percent, spurring hiring and eventually driving household spending. "Businesses are in position to take up some of the slack because of rebounding profits," said the association's president, Lynn Reaser. "Our economists believe improvement in sales and profits will ...
How Job Shortage Is Holding Back Economy
By Joseph Schuman - AOL News(Nov. 24) -- We know what the economy did last summer, and it wasn't that great. Though Americans were producing more goods and services than during the recession, new numbers from the government show a slower pace of growth than previously thought and suggest the dour job market could block a quicker revival. The Commerce Department said real gross domestic product was growing at an annual rate of 2.8 percent for the third quarter to a market value of $14.266 trillion. That's still a good deal better than the 0.7 percent decline in U.S. economic output during the second quarter and the ...
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