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Economy surges on positive developments
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Contributor | None Entered |
Last Edited | None Entered Oct 07, 2006 07:59pm |
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Category | Perspective |
News Date | Sunday, October 8, 2006 01:00:00 AM UTC0:0 |
Description | A remarkable confluence of simultaneous circumstances has propelled the economy into higher gear, raising consumer confidence, opening corporate pocketbooks and signaling an upward surge in retail spending.
This is especially significant at the beginning of the 2007 fiscal year, and a fourth quarter 2006 predicted to slide into a slowing economy.
Although not necessarily working in tandem, these positive economic circumstances are combining to give the American consumer and producer alike a surprising lift at this stage of the economic cycle.
An unexpected improvement in the recent University of Michigan Consumer Confidence Index showed that the American consumer was beginning to feel the initial impact of this turnaround.
With corporate willingness to spend the huge accumulation of money generated by record earnings, increasingly accumulating cash has accelerated corporate stock buyouts. This is the most telling sign that big business also believes that the American economy is ready for a new upward push. |
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