Housing, durable goods sales rise

Discussion in 'Economy' started by Chris, May 26, 2010.

  1. Chris
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    Chris Gold Member

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    The recovery on Tuesday gave traders a break from persistent worries about European government debt and allowed them to focus on economic news.

    Two reports from the Commerce Department offered the latest evidence that the U.S. economy is improving. Orders for big-ticket manufactured goods rose 2.9 percent last month. It was the biggest jump in three months and more than double the gain economists polled by Thomson Reuters had forecast.

    U.S. manufacturing has been strong throughout the recovery. April's figures were boosted by a big rise in transportation orders. Excluding transportation, orders fell 1 percent.

    The government also said that sales of new single-family homes rose 14.8 percent to an annual rate of 504,000 units after buyers raced to secure an expiring tax credit. That followed a 29.8 percent rise in March that was the biggest increase in 47 years. The latest gain was well ahead of estimates.

    The Associated Press: Stocks climb after durable goods, home sales rise
     
  2. Vast LWC
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    Vast LWC <-Mohammed

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    More good news. The recovery just keeps on trucking along.
     
  3. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Great news!

    Good to see the economy recovering month after month
     
  4. Vast LWC
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    Vast LWC <-Mohammed

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    Indeed, it just seems to keep on coming.

    Even FoxNews.com had a blurb about it, sandwiched between several negative stories about the Obama administration of course.
     
  5. william the wie
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    william the wie Gold Member

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    The only fly in the ointment so far is the EU trouble and forced deleveraging in China. The US as the best of the worst could be in fat city. If two things break right: no major overseas implosion and a mid-course correction rather than deadlock after the mid-terms; then Obama will avoid being the DNC's Hoover. I doubt he will be reelected in 2012 but if things break right he could pull off a Cleveland in 2016. He was and to some extent still is underseasoned for the job but a second non-sequential term after the oil spill fades is still possible.
     
  6. Chris
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    Chris Gold Member

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    Several negative stories about Obama?

    That's all they do 24/7.

    I watched some of FoxLies today, and all they were talking about was ACORN.

    WTF?
     

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