"Yippee! Economy grew at good clip after all. Is US out of the woods yet?"

[applegrove]

Yippee! Economy grew at good clip after all. Is US out of the woods yet?

by Mark Trumbull at the Christian Science Monitor

http://www.csmonitor.com/Business/2013/0829/Yippee!-Economy-grew-at-good-clip-after-all.-Is-US-out-of-the-woods-yet

"SNIP.............................


Today, if anything, the US economy is in a better place than then, Mr. Handler says. Corporate profits have risen from year-ago levels, consumer spending is growing modestly, and there’s little excess buildup of inventories in factories and stores.

The 2.5 percent growth rate of gross domestic product (GDP) represents a welcome step up from a first-quarter rate of 1.1 percent. The Commerce Department revised the second-quarter number upward (from the 1.7 percent estimated in July) based on an improvement in the foreign trade picture. Exports, which count as an addition to GDP, were larger than initially estimated, and imports were smaller.

Economist Peter Morici of the University of Maryland describes the economy’s position as “treacherous” – or riskier than the latest growth rate may imply. One reason, he says, is that the gap is still large between what America sells to other nations and what it imports.

“The trade gap remains a substantial drag on the economy and continued improvements will be needed to main stronger growth,” he says.

............................SNIP"

[jwirr]

1. There are many problems that still need to be fixed such as the haves and have nots. One issue that

I know is still a problem is personal debt. Many of us owe more than we can pay off and thus it limits our spending habits.

[applegrove]

2. Oh yeah. I agree. The Yippee was not mine but the actual title of the article.

I agree it is misplaced. But a recovery is a start.

[jwirr]

3. I to am thankful for the beginning.