October 30, 2003

The Bush Recovery

The economy had a good third quarter. GDP rose 7.2%, the highest rate since 1984 (the year a GOP President got re-elected); initial jobless claims fell 5,000 last week, and

Unlike the past two years, any boost in the economy wasn't solely dependent on business spending. Firms finally started spending again which suggests they'll hire more workers and sustain the recovery. Housing growth remains strong too. All this good news could be harbinger for a good Christmas shopping season.

Steve briefly comments.

"Economy Rocketed Ahead in 3rd Quarter"

"Economy Grows at 7.2 Percent Annual Rate in Third Quarter"