Some Positive Economic News ... for a Change!by Gerri Willis
Are you as sick of all the bad news in the economy lately as I am?
Well despite what feels like a bombardment of negative headlines - there are definite bright spots in the economy - a recovery may be in sight!
First of all, a recent Wall Street Journal poll shows nearly half of us feel the worst is behind us when it comes to the economy. They may very well be right - this country is structured for growth!
And guess what? We are growing! The economy grew at an annual rate of two and a half percent in the third quarter - the best performance in a year! And many economists are forecasting similar - if not stronger numbers - for this quarter.
Now while hiring is not going gangbusters - there are positive signs here as well.
Even though October only saw a boost of 80,000 thousand jobs - the government revised upward the number of jobs added in August and September.
And today - the number of people applying for unemployment benefits fell to the lowest level since early April - 388,000 marks the fourth decline in five weeks.
It's also the first time in nearly seven months that the four-week average fell below 400,000.
Where are these jobs? Well for starters American manufacturing is back on the rise. Output at the nation's factories rose three-quarters of a percent in October. While that doesn't sound like a lot, it's the fastest rate in three months!
In fact, according to USA Today industrial production is up nearly 13 and a half percent since the "end of the recession" in June 2009.
Car sales - along with the retail sector as a whole - much higher last month - than October of 2010. It probably helped that the Labor Department just announced consumer prices fell for the first time since June.
Bottom line - of course things are going to get better. This is the greatest country in the world - despite only having five percent of the global population - we still have the biggest economy!
We have a culture that enflames the entrepreneurial spirit.
Things are going to get better because there's no room for failure in America. No time to throw our hands in the air and give up. Wwe're going to succeed because in the end we always do, and we always will.