Companies took in more orders and stepped up production in February, a sign demand will sustain the U.S. expansion after a fourth-quarter pickup, the good folks at Bloomberg report..
The Institute for Supply Management-Chicago Inc. said today its business barometer climbed to a 10-month high of 64 from 60.2 in January. Readings above 50 signal expansion and the figure exceeded all forecasts in a Bloomberg News survey. The Commerce Department raised its growth estimate for the final three months of 2011, to 3 percent from 2.8 percent.
Income gains in the second half of 2011 were stronger than previously reported, which may bolster household purchases that make up 70 percent of the economy. Federal Reserve Chairman Ben S. Bernanke signaled today to Congress that recent signs of strength won’t change the central bank’s view that low rates are necessary through 2014….
Does this mean we'll have four more years of Obama? Just asking....
Read all about it at http://www.bloomberg.com/news/2012-02-29/u-s-economy-expands-at-3-annual-pace-greater-than-economists-estimated.html
No comments:
Post a Comment