Posted on 09/21/2009 5:14:05 PM PDT by Diana in Wisconsin
Washington, D.C. (AHN) - American's economic recovery "is very near," a report by a private research organization concluded Monday.
The assertion by the Conference Board was based on improvements in 10 leading economic indicators measured by the group. Five of the indicators improved in August, while two had no change.
The indicators are used to forecast economic fortunes up to nine months into the future. An index that measures current activity, the coincident index, was unchanged for the month after being revised to show a 0.1 percent increase in July.
The indicators have been rising since April after being in decline for 20 months.
"The LEI has risen for five consecutive months and the coincident economic index has stopped falling," said Ken Goldstein, a Conference Board economist. "Taken together, this suggests that the recession is bottoming out. These numbers are consistent with the view that after a very severe downturn, a recovery is very near. But, the intensity and pattern of that recovery is more uncertain."
Indicators on the rise were slower supplied deliveries, the interest rate spread, higher stock prices, an increase in building permits, and brighter consumer expectations. Those indices still on the decline were from the real money supply, jobless claims and capital goods orders. Not showing any change were the factory workweek and consumer goods orders.
The Conference Board has always struck me as a rah-rah dispenser of positive conventional wisdom that businesses like to hear.
Even with no recovery, we will continue to be told that the recovery is here and what a great success it has been for Obama.
Things are what Obama and his minions say they are. If you can’t see it or disagree, you are a racist.
The car showrooms are empty, once again. No one really wants to buy a car right now, unless they can get free money.
It ain’t workin’, folks!!!
Exactly. ;)
Then why are 81 of the 81 survey Economist predict no rise in the 0 % interest rates from the Feds this week. If things are truly improving raising rates would be at least recommended by one economist.
LLS
The "indicators on the street," meaning those of us who have jobs, is that things are not getting better but are in fact getting worse.
A good friend of mine just got laid off on Friday and another friend in the same trade said that his company is cutting back to 32 hour days.
Sounds like economic improvement to me! Thank you Pres__ent Obama and the DemocRATS! /sarc...... slumps shoulders shuffles away mumbling under his breath .... you sorry a$$es...
When my laid off neighbors go back to work I’ll believe it.
A recession is when other people get laid off.
A depression is when you get laid off.
1. banking system under water
2. unemployment near depression levels
3. housing being supported by banks artificially.
4. banks are ready to change teaser-rate to fixed; double the current rate(?) make that mortgage payment dude!
Sure looks positive to me; not
The Stimulus is Working !!!
“...his company is cutting back to 32 hour days.”
I’d be all over that! I work about 39 hours a day right now...I knew what you meant. ;)
I’m in retail. We aren’t having a ‘Christmas’ this year. We just aren’t. We’re holding our own, and actually my sales are about $50K ABOVE last year (my fiscal year ends this month) but this winter is going to be a killer for our garden center.
I can only sell so many house plants. :(
Just remember At tax time to add the $4500 clunker Stimulus to your taxable income.
only on state tax
it’s not federally taxed
that misinfo has been on FR for months
We are nine months into what will almost certainly be the worst 48 months in American history. Perhaps the remaining 39 months will pass quickly for some of us, but those who love our country cannot call the economic recovery that will start in November 2012 “very near”.
Urkel, Botox Nan, Dingy Reid, Boob Dodd, and Bwarny Fwank are resigning soon?
Yeah, just like a prisoner with his on the prison wall is very near freedom.
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