11/30/2005

Best growth in 20 years?

Is the US economy really doing THIS well? After all of the worries, interest rate increases and natural disasters it looks like the GDP isn't in bad shape at all. Looks like consumer spending is up due to the housing market growth and other "durable goods".The increase is the best we've seen in 20 years! Looks like many are hoping that the job market growth will be trailing behind and hopfully it is.

4 comments:

Connor said...

The U.S. economy is doing rather well. However, if one only listens to the media he/she might not think so. The media tends to focus only on the negative things going on in society and hardly ever brings out the actual truths of our country's status. I agree in that I hope the job market will speed up the pace! I mainly appreciate that fact that your post mentions things that the media dwells on and often blows out of proportion. In other words, to under the state of our economy we must do our own research and that is precisely what economists must do.

Liz said...

I believe that our economy is just doing what it always does. It goes up and down all the time. Trends seem to point in the direction that there is an upswing. And I hope that it will continue to get better. The housing industry is a good sign of what the economy is doing. In a recession housing slows down and it is not showing any signs as of now of slowing down any time soon.

Dr. Tufte said...

The economy is doing this well - even though you won't hear that from many sources.

In fact, a big reason for the high price of oil is that 2004 was the best year for the global economy since the early 1970s. It looks like 2005 may match that.

Dr. Tufte said...

-1 on Connor's comment for grammatical errors.