Urbin Report

Monday, January 15, 2007

The Bush Economy

Glenn Reynolds, and others are surprised at the economy's strength:

"Economists are hastily upgrading their forecasts for the US economy after a series of surprisingly strong reports suggesting the so-called 'soft landing' may be over and growth is accelerating. Over the past week, surprises have come in stronger-than-expected reports on US job creation, the trade balance and retail sales -- all key contributors to economic activity. . . . The latest data showed US employers added a healthy 167,000 new jobs in December, with unemployment holding at a low 4.5 percent. Average wages were up 4.2 percent annually."