Economy Still Growing
It seems those experts and analysts whose job it is to know these things, are about as good as I am about guessing what the future will bring.
U.S. Economy: Expansion Was Faster Than Estimated
Surging exports and business spending propelled U.S. growth to the fastest pace in more than a year before turmoil in the credit markets forced the Federal Reserve to warn of a bleaker outlook.
Gross domestic product rose at a 4 percent annual rate in the second quarter, the Commerce Department said in Washington, up from an initial estimate of 3.4 percent. The median forecast of economists polled by Bloomberg News was 4.1 percent.
The figures may be the peak of the expansion for this year as the cost of borrowing increased in August and the Fed said that risks to growth “increased appreciably.” In a sign the job market is weakening, the Labor Department said today claims for unemployment benefits climbed to the highest level since April. A further report showed house prices in the second quarter rose at the slowest pace in a decade.
These guys are about as good as weather forecasters here in Indiana. Not good, until the day of. But hell I could even tell you the day of, so what good are they.