"Fed Survey Shows US Recession May Be Over"

[MrJayremmie]

US retail sales rise more than expected in August

http://finance.yahoo.com/news/US-retail-sales-rise-more-apf-2009534158.html?x=0

WASHINGTON (AP) -- U.S. retail sales jumped in August, spurred by widespread gains beyond the increases of auto and gasoline sales that economists expected.

The report is a sign that American consumers may be less cautious about spending as the economy recovers. Consumer spending is closely watched because it accounts for about 70 percent of the country's economic activity.

The Commerce Department said Tuesday that retail sales rose a seasonally adjusted 2.7 percent last month, after falling 0.2 percent in July. That beat analysts' expectations of a 2 percent increase, according to a survey by Thomson Reuters.

Excluding autos, sales rose 1.1 percent, ahead of an expected 0.4 percent jump. Excluding autos and gas, sales rose 0.6 percent.

Auto sales soared 10.6 percent, the most in almost eight years due mainly to the government's popular Cash for Clunkers program. Gas station sales rose 5.1 percent, as prices at the pump rose in August. Economists expected increases in both categories, but sales also rose at electronics and appliance stores, department and sporting goods stores.

 

[BrianFromWA]

Is Joseph related to:

 

[The_Lillard_King]

France runs at about 10% unemployment as a "normal". Sarkozy is reforming some of their system, however, since ~25% of their population under 25 can't find a job.

When I was under 25, I didn't want a job.

 

[PapaG]

 

[RoyIsClutch07]

The contraction being over isn't as important as the recovery that follows. If the recovery is a jobless one with massive inflation, we'd be better off in a recession.

Based on everything I have read or heard I think the they are anticipating this to be the eventual outcome.

 

[MrJayremmie]

Bernanke says recession 'very likely over'

http://finance.yahoo.com/news/Bernanke-says-recession-very-apf-912326394.html?x=0

WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke said Tuesday the worst recession since the 1930s is probably over, although he cautioned that pain -- especially for the nearly 15 million unemployed Americans -- will persist.

Bernanke said the economy likely is growing now, but he warned that won't be sufficient to prevent the unemployment rate, now at a 26-year high of 9.7 percent, from rising.

 

[MrJayremmie]

Industrial production better than expected in Aug.

http://finance.yahoo.com/news/Industrial-production-better-apf-2771850261.html?x=0

WASHINGTON (AP) -- Industrial companies boosted production more than expected in August, making more cars, clothing and other goods in the early stages of a broad economic recovery.

The Federal Reserve said Wednesday that output at the nation's factories, mines and utilities rose 0.8 percent in August. Economists surveyed by Thomson Reuters expected a 0.6 percent increase.

 

[maxiep]

Industrial production better than expected in Aug.

http://finance.yahoo.com/news/Industrial-production-better-apf-2771850261.html?x=0

I've seen a few of these posts from you and they're all relative. Who cares if it's "better than expected" or "stronger than forecast"? There is unanimity that we're in a brutal spot not seen since the early 80s. Allow me to use technical and fancy economic language to describe the current and forecasted state of the economy--our economy is in the shitter. It doesn't matter if it's floating in the bowl or about to get flushed, it's still not in a good place and there's little hope of it getting out.

 

[MrJayremmie]

I've seen a few of these posts from you and they're all relative. Who cares if it's "better than expected" or "stronger than forecast"? There is unanimity that we're in a brutal spot not seen since the early 80s. Allow me to use technical and fancy economic language to describe the current and forecasted state of the economy--our economy is in the shitter. It doesn't matter if it's floating in the bowl or about to get flushed, it's still not in a good place and there's little hope of it getting out.

I decided to counter all the righties articles of bad news and being critical of Obama with good news.

 

[maxiep]

I decided to counter all the righties articles of bad news and being critical of Obama with good news.

How is it good news? It's like saying, "I bought my house for $750K, thought I'd get $300K on the open market and someone bought it for $325K!"

 

[MrJayremmie]

How is it good news? It's like saying, "I bought my house for $750K, thought I'd get $300K on the open market and someone bought it for $325K!"

Great point! The economy is very bad.

But instead of talking about how horrible it is, i'm posting upbeat articles on the recovery. I understand this bothers you, and I wouldn't expect anything less.

 

[MrJayremmie]

New jobless claims drop unexpectedly to lowest level in 2 months as layoffs ease

http://finance.yahoo.com/news/New-jobless-claims-drop-apf-3924653370.html?x=0

WASHINGTON (AP) -- The number of newly laid-off workers seeking unemployment benefits fell last week to the lowest level since early July, evidence that job cuts are slowing.

The Labor Department said Thursday that initial claims for unemployment insurance dropped to a seasonally adjusted 545,000 from an upwardly revised 557,000 the previous week. Wall Street economists expected claims to rise by 5,000, according to Thomson Reuters.