December 17, 2003
STILL?:
Economic reports show expansion without inflation: Consumer prices dip, industrial production surges and housing construction soars (Jeannine Aversa, December 17, 2003, ASSOCIATED PRESS)
Consumer prices slid, industrial production surged and housing construction sizzled in November, signs that the economic recovery is powering ahead without unwanted inflation.The latest batch of economic news Tuesday raised hopes that the recovery will be lasting and that businesses may feel more inclined to boost hiring, analysts said.
"We have no inflation, once-idle factories are pumping out goods, and houses are being erected at a breakneck pace. This is a perfect recipe for economic strength," said Richard Yamarone, an economist at Argus Research Corp.
After twenty-plus years of virtually uninterrupted economic growth with falling or no inflation, you'd think even economists would notice a trend. Posted by Orrin Judd at December 17, 2003 10:36 AM
"Virtually uninterrupted" means "interrupted."
It sure was everywhere I lived during the past 20 years.
Posted by: Harry Eagar at December 17, 2003 9:27 PMNationally it seems not to have been--according to the way the dismal scientists factor these things and because of how long it takes to gather data, they reportedly may reclassify the supposed recession under George H. W. Bush and it seems damned unlikely that the 2000-01 slowdown was truly a period of negative growth, rather it'll likely prove to have been slow growth.
Posted by: oj at December 17, 2003 10:02 PM