During the past week alone, we have learned:
1. New home sales are surging, up 17.5% in November.
2. Consumer Sentiment was the highest in 2017 since the year 2000.
3. Personal Income is rising nicely, up 0.3% in November alone.
4. Inflation is quiet. The PCE deflator is up on 1.8% year-over-year.
5. Core inflation is up even less, only 1.5% year-over-year.
6. Consumer spending rose twice as much as expected in November.
7. Shipment of non-defense capital goods (less aircraft) has risen for ten straight months.
8. The current account deficit with other nations dropped 24% between Q2 and Q3.
9. The Index of Leading Economic Indicators has risen 15 straight months.
You have to look hard to find negative economic news. While there is always a recession ahead of us, it is very far ahead of us indeed. There are very few signs on the horizon.
I don't recall a period when good economic news was so abundant.
Like snow, good news falls quietly.
Happy Economic Holidays, America!
1. New home sales are surging, up 17.5% in November.
2. Consumer Sentiment was the highest in 2017 since the year 2000.
3. Personal Income is rising nicely, up 0.3% in November alone.
4. Inflation is quiet. The PCE deflator is up on 1.8% year-over-year.
5. Core inflation is up even less, only 1.5% year-over-year.
6. Consumer spending rose twice as much as expected in November.
7. Shipment of non-defense capital goods (less aircraft) has risen for ten straight months.
8. The current account deficit with other nations dropped 24% between Q2 and Q3.
9. The Index of Leading Economic Indicators has risen 15 straight months.
You have to look hard to find negative economic news. While there is always a recession ahead of us, it is very far ahead of us indeed. There are very few signs on the horizon.
I don't recall a period when good economic news was so abundant.
Like snow, good news falls quietly.
Happy Economic Holidays, America!
