Consumer Spending, Economy Grow for Third Straight Quarter

I hope this doesn't hurt too many heads-more good news!


Consumer spending likely drove growth in Q1
AP
By JEANNINE AVERSA, AP Economics Writer


WASHINGTON – The economy is rebounding as America's shoppers snap back to life.

That adds up to what should be a solid showing in the opening quarter of this year. The fresh picture of the nation's economic health that the Commerce Department will release Friday is expected to provide the strongest evidence yet that the economy is strengthening.

Consumers, the drivers of overall economic activity, finally seem to be spending more. To be sure, shoppers aren't spending with the kind of abandon that usually sparks the early stages of economic recoveries. But they're spending enough to keep the economy expanding.

The economy grew at a 3.4 percent annual rate in the January-to-March quarter, according to Wall Street economists surveyed by Thomson Reuters. It would mark the third straight quarterly gain as the United States heals from the longest recession since the 1930s.

Multiple signals suggest the U.S. economy has turned a corner. Employers are creating jobs again — a net total of 162,000 jobs in March, the most in three years. Manufacturers are boosting production. Consumer confidence is higher.

more...

http://news.yahoo.com/s/ap/20100430/ap_on_bi_go_ec_fi/us_economy

:bounce:

:)

But you keep trying.

This president is going to be successful.


Must be very frustrating for you, and others here that just can't stand to see it.

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see much improvement with regard to the plight of us unwashed masses? However, it's the upper 5% who own the lion's share of the wealth, therefore, it's not hard to believe that "the economy" is rebounding without JOBS. :shrug:

This expansion is being aided by increased household spending. Also, employment costs are up .6% in Q1.

:)

appliance made in China is failing and must be replaced.

We've personally stimulated economy in the last year by needing:
Washing Machine
Fridge
Toaster
Phones
Computer
Lawn mower
2 Faucets

Seriously, people may have been holding off for some years replacing monkey-fixed stuff.
Maybe they couldn't wait anymore.