Despite many economic concerns, the U.S economy continues to grow. Surveys of business activity and data collected from the fed’s 12 regional banks gave evidence of a growing economy. “Economic activity continued to expand in September and early October,” the fed said.
At this point in time Analysts are speculating a raise in interest rate. The central bank will likely push up rates for a fourth time this year to guard against inflation pressures. The fed argues that the economy should grow at a decent pace even if there are some potholes along the way.
The fed also has speculated that the rise in oil prices have somewhat stymied the progress of the economy. However, the fed did not signal concern that this year’s oil price surge will be catastrophic enough to send the economy into a recession as it did in the 1970s and 1980s.
Other news regarding commerce and home sales were optimistic. Big ticket sales items in commerce were up a couple points, as were home sales. Some 2.7 million jobs that were lost in the manufacturing sector since 2000 have shown signs of rebound. On a final note farmers in most parts of the country were having a good year.