February 21, 2006
First Quarter Economic News
Usually we hit these stories after the fact, but here's an interesting economic prediction.
- The U.S. economy was expected to expand at an annual rate of 4 percent this quarter and at a 3.4 percent rate in April through June after growing at a 1.1 percent rate in the final three months of 2005, based on the median estimate of 77 economists surveyed by Bloomberg News earlier this month.
Economists have since raised forecasts after a report last week showed stronger-than-expected retail sales. Morgan Stanley raised its estimate for first quarter economic growth to 5.9 percent, up from a previous prediction of 5.5 percent.
5.9%!!! Economics and Markets Posted by AlexC at February 21, 2006 2:14 PM
The headline of the Rocky Mountain News yesterday was "Welfare up 45%" The subhead said this was the result of a "tough job market." Unemployment is less than 5%, kids, only the MSM could possibly spin that as a tough job market.
Posted by: jk at February 22, 2006 9:20 AM | What do you think? [1]