Consumer Spending, Economy Grow for Third Straight Quarter

[babylonsister]

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

[Kahuna]

1. ...

:patriot:

[fasttense]

2. The GDP grew during the worst of the 1st RepubliCON Great Depression.

The GDP went positive soon after FDR was elected. It took another six to eight years to get unemployment down to 10%. (But that was a real 10% not the fake "we don't count those who have been unemployed over a year" rate. Or the, "we don't send the survey out to Appalachia and the inner city rate.")

If you are making less than $100,000 a year, look around you. Do you see any improvement? The economy is doing fine for the uber wealthy. But for the rest of us, the economy is very, very awful. People are still unemployed. There are 6 people available for every damn job opening. No one has any money, except the top 1%.

There are two Americas and the majority of citizens live in the slums.

Where is Robin hood when you need him?

[babylonsister]

3. I knew there'd be someone to poop all over some good news for

a change. You didn't disappoint. And I'm unemployed-looking for a job, but I'm keeping the faith. So sorry you're not. :hi:

And what about these folks? Bet they don't make over $100K, yet they're doing better. I can't see this as a bad thing.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x8244015

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