March 14, 2013

NOW PASS AMNESTY AND LET THE BOOM RESUME:

U.S. economy improving faster than expected, data show (Don Lee, 3/15/13, Los Angeles Times)

Piece by piece, evidence has begun to accumulate that after four years of lackluster performance, the U.S. economy is on track for stronger growth than many people had expected.

The latest support for that view comes from data on consumer spending, which grew at a surprisingly quick pace in February, pushed upward by robust demand for cars and building materials. [...]

The more optimistic among them have forecast that the economy would begin to accelerate once consumers and companies worked through the damage left behind by the housing bubble and debt crisis that triggered the recession. That process of "de-leveraging" has now largely run its course, and the new evidence may suggest faster growth in the coming months.

"What's changed in the economy is that the key cyclical drivers of economic growth are kicking in," said Wells Fargo Securities economist Mark Vitner, noting the gains in the automobile and housing markets. "We are further along the recovery process than many people realize."

Posted by at March 14, 2013 9:32 PM
  

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