Tuesday, June 19, 2007
U.S. Economy: Dems better crow while they can
The Democratic National Committee says this 'bout the U.S. economy on its Web site:
"According to a ... report by the Commerce Department ... the economy nearly stalled in the first quarter. The growth of the economy slowed to a pace of just 0.6 percent, which was the worst record in over four years.
"Economists blame the bloated trade deficit and businesses cutting investment in goods and inventories, as well as a sour housing market."
The Wall Street Journal's Scott Patterson informs us that the Dems won't be crowing long (subscription required):
"Economic output grew at an annual rate of just 0.6% in the first quarter. Had it not been for a 4.4% rate of increase in consumer outlays, the economy likely would have contracted.
"But the outlook for the current quarter isn't nearly as grim. Many economists expect the growth rate to bounce back above 3%. Other engines of the economy are kicking in. Economists at Merrill Lynch expect the global economy, excluding the U.S., to grow at a 5.7% pace in 2007. That should help to power export growth. Meanwhile the manufacturing sector seems to have worked through an inventory correction and put itself in a position to increase output."
"According to a ... report by the Commerce Department ... the economy nearly stalled in the first quarter. The growth of the economy slowed to a pace of just 0.6 percent, which was the worst record in over four years.
"Economists blame the bloated trade deficit and businesses cutting investment in goods and inventories, as well as a sour housing market."
The Wall Street Journal's Scott Patterson informs us that the Dems won't be crowing long (subscription required):
"Economic output grew at an annual rate of just 0.6% in the first quarter. Had it not been for a 4.4% rate of increase in consumer outlays, the economy likely would have contracted.
"But the outlook for the current quarter isn't nearly as grim. Many economists expect the growth rate to bounce back above 3%. Other engines of the economy are kicking in. Economists at Merrill Lynch expect the global economy, excluding the U.S., to grow at a 5.7% pace in 2007. That should help to power export growth. Meanwhile the manufacturing sector seems to have worked through an inventory correction and put itself in a position to increase output."
# posted by Joltin' Django @ Tuesday, June 19, 2007 
