August 04, 2004

Everything's Fine Over Here

Our economy is red hot, couldn't be better, nothing to see here but job growth, a strong consumer base, and good times:

...The Commerce Department reported Tuesday that consumers cut their spending by 0.7 percent in June from the previous month as high energy prices and a sluggish job market made for more cautious buyers.

...Americans' incomes, the fuel for future spending, rose by 0.2 percent in June, down from a solid 0.6 percent increase the month before.

The figures are not adjusted for price changes.

...The nation's payrolls grew by just 112,000 in June, half the amount analysts had forecast. Economists are predicting a rebound in July, however, with job growth in the 200,000 range. The government releases the employment report for July on Friday. ...

How much more good news can we stand? Well, we'll probably find out shortly, because it's August. The retail 'month of death' when everyone who can put off a purchase tends to do so.

Posted by natasha at August 4, 2004 10:27 AM | Economy | Technorati links |

But, see, we've turned the corner, and uh...Orange Alert! Orange Alert!

Posted by: NTodd at August 5, 2004 05:43 AM