Posted on 11/30/2005 10:14:49 AM PST by SirLinksalot
November 29, 2005
Sales of New Homes Stay Strong in October, Setting Record
By VIKAS BAJAJ
Gasoline is cheaper than it was before Hurricane Katrina slammed into New Orleans. Consumer confidence jumped last month and new home sales hit a record. The stock market has been rising. Even the nation's beleaguered factories appear to be headed for a happy holiday season.
By most measures, the economy appears to be doing just fine. No, scratch that, it appears to be booming.
But as always with the United States economy, it is not quite that simple.
Consumer confidence is bouncing back from what was arguably some of its worst readings in years. Gasoline prices-the national average is now $2.15, according to the Energy Information Administration- have fallen because higher prices tamped down demand and supplies in the Gulf Coast have been slowly restored. The latest read on home sales, released today, contradicts virtually every other recent measure of housing activity that generally indicate a slowdown. And yes, manufacturers' fortunes are on the mend, but few besides airplane makers are celebrating.
It all means that the economy is likely to end the year with a splash, but that does not mean the broad economic picture next year will be even better. Indeed, the Organization of Economic Co-operation and Development said today that the United States economy is likely to be a repeat of 2005. The O.E.C.D. projected that 2005 growth will settle at 3.6 percent, down from 4.2 percent in 2004. The O.E.C.D. also forecast 2006 growth at 3.5 percent, but other economists think that may be too optimistic.
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(Excerpt) Read more at nytimes.com ...
I never checked, but was this the habit of the NY TIMES when Clinton was POTUS ?
It depends on what you definition of "is" is.
Myopic neo-com.`s.
My new definition of the radical left at the NY Times.
Neo-Communists/ Neo-coms.
Since circulation is down at the NY Times the economy is
bad.
End of story.
The NYSlimes will NEVER have anything good to say about the Bush administration. NEVER! NEVER anything good about ANY Republican.
Please do not alter the title of any published story or editorial. Using only the original title helps us keep the number of duplicate threads to a minimum.
Thanks.
You have got to be effing kidding me. Economic inidacators have been way up recently and up overall for about the last 18 months. Yet the NY Times is telling you not to believe your own eyes. This paper is garbage, pure garbage. An article like this would have NEVER appeared if a democrat was in the Wite House.
The economy is a huge machine with material and perceptual components. There are resource cycles, monetary cycles, and political cycles. Just because it was booming last week, does not mean that it will be booming next week, nor is the inverse any more true. The honest thing to say is that things are going well for some, and probably less well for others. We can bounce statistics around in endlessly, but no one seems to have a full grasp on the complexity. Lets just hope that we have enough balls in motion to keep the majority of the people positive during 2006. The proof of the pudding will be known by next November.
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