Pinch Me

I'm dreaming.
A positive economic article from the AP?

Even in the face of high energy prices, the economy turned in a solid performance in the first quarter of 2005, suggesting the expansion should stay on firm footing.

The gross domestic product, the broadest measure of economic standing, increased at an annual rate of 3.8 percent from January through March, according to revised figures released by the Commerce Department on Wednesday.

That compared with a 3.5 percent growth rate estimated a month ago and matched the showing over the final three months of 2004.

GDP measures the value of all goods and services produced within the United States. In the opening quarter of 2005, it climbed to $11.1 trillion on an annualized basis, adjusted for inflation.

Brisk spending on housing projects, more investment by business in equipment and software, and a trade deficit that was less of a drag on economic growth all played a role in the higher first-quarter GDP reading.

"The economy is performing well. Sturdy growth with modest inflation," said Mark Zandi, chief economist at Economy.com.

Incredibly there weren't that many "buts" in the whole thing.
What's going on?

(hint, it's not an election year)

Second Bush Administration Posted by AlexC at June 29, 2005 9:33 PM