[TheAntiDoomer]

http://www.gallup.com/poll/125639/gallu ... force.aspx

DAILY UNEMPLOYMENT NUMBER DROPS TO 8.2%

[careinke]

http://www.gallup.com/poll/125639/gallup-daily-workforce.aspx

DAILY UNEMPLOYMENT NUMBER DROPS TO 8.2%

Well, there is an election coming up next year.

[Pops]

I notice that the percentage of the population who think economic conditions are getting better has increased too, it went from 24% to 25%.

http://www.gallup.com/poll/110824/Gallu ... tlook.aspx

[copious.abundance]

Orders for U.S. Durable Goods Excluding Planes Rise the Most in Six Months

Orders for U.S. durable goods excluding transportation equipment rose in September by the most in six months, showing manufacturing is supporting the expansion.

Demand for goods meant to last at least three years, outside of airplanes and automobiles, climbed 1.7 percent, exceeding the median forecast of economists surveyed by Bloomberg News that called for a 0.4 percent increase, figures from the Commerce Department showed today in Washington. Total bookings fell 0.8 percent, depressed by a 26 percent plunge in planes.

Expanding economies overseas and a 14 percent drop in the value of the dollar since June 2010 are propelling American exports to record levels, helping manufacturers like Caterpillar Inc. A government incentive may also be contributing to gains in business spending on equipment, like computers and machinery, giving the world’s largest economy an added boost.

[...]

[copious.abundance]

Let's see if Oily shows up here this Fall and Winter when ts starts htf.

There there, now that's not so bad, is it.

U.S. economy grows 2.5% in third quarter

By Jeffry Bartash, MarketWatch

WASHINGTON (MarketWatch) — U.S. growth accelerated in the third quarter as consumers and businesses ramped up spending, a report that shows the economy remained resilient in the face of strong headwinds.

Gross domestic product in the July-through-September period expanded at a 2.5% annual rate, the government said Thursday. That’s nearly double the 1.3% rate of growth in the second quarter and much faster than the first quarter’s tepid increase of 0.4%.

“There was strength across the board,” said Ellen Zentner, an economist at Nomura. “Now we have some momentum heading into the fourth quarter.”



[...]

[vision-master]

Found a picture of oily in his younger daze.

[Pops]

And perhaps most importantly, the restive public saw their per-capita slice of the pie shrink yet again. This report certainly makes for good headlines and provides ample material for positive political spin. But we expect that the mood of most Americans will be one of disbelief -- especially with regard to their household budgets and employment prospects. The dramatic changes in consumer spending during the third quarter are most likely directly tied to moderating gasoline and grocery prices -- not fundamental changes in household disposable income or wealth. Until those start to improve (and unemployment numbers drop sharply) we don't expect this upward bounce to have real legs.

CMI

[Pops]

2.5 isn't great considering where we've been but it's sure better than where we've been!

I'm wondering if this is an burst of pent up demand? After all incomes are declining at -1.7% yearly rate.

Or does this show the weak links have been weeded out (you know, useless jobs and spending eliminated) and we're now at a place where those who survived will charge ahead toward the next cliff?

[TheAntiDoomer]

2.5 isn't great considering where we've been but it's sure better than where we've been!

I'm wondering if this is an burst of pent up demand? After all incomes are declining at -1.7% yearly rate.

Or does this show the weak links have been weeded out (you know, useless jobs and spending eliminated) and we're now at a place where those who survived will charge ahead toward the next cliff?

haha, you crack me up pops, you could find poo in a mountain full of candy.

[Revi]

Everything is fixed in Europe and the game is on again. They will be printing money for the foreseeable future and everything is going up again. Us poor suckers that have to buy heating oil are in trouble, but the casino economy is back up and running again. I'm going to try to invest in copper. I am going to keep all the pre-82 pennies, since there is no other way of holding value. I made a piggy bank and am calling it "a bank too small to fail". If I fill it up with real copper pennies I will have more than doubled my money. Try that anywhere else!

[Pops]

haha, you crack me up pops, you could find poo in a mountain full of candy.

So you think spending increasing 2.5% while incomes drop 1.7% and unemployment at a standstill is all candy?

I mean you act like you do but do you honestly?

[Cog]

People are leveraging credit again. Not really a good sign of anything.

[copious.abundance]

If it hadn't been for a -1.1% contribution from inventories, this would have been a +3.6% GDP print. It's not a blockbuster, but it's still pretty decent.

And, pending revisions of course, real GDP is back into expansion territory. So the (original) title of this thread is accurate once again!

[GoIllini]

I'm actually going to agree with Pops here. Yes, there's a lot of positive news here. But look at where oil is. Demand is going back up and it's going to be tough to grow the economy north of ~ $120/barrel Brent.

PHEVs can't come a moment too soon. GM and the other manufacturers need to figure out how to get the cost down.

[Serial_Worrier]

Companies are swimming in cash and reducing head count. It's amazing how they squeezed every ounce of efficiency out of their existing workers, offshored IT and replaced workers with more technology.

[copious.abundance]

In the category of obscure economic indicators, here we have something veeeery interesting.


LINK

[Pops]

That's all FEx delivering the online sales CMI is talking about!

[basil_hayden]

Nah, it's all the trucks delivering stuff to North Dakota wellheads and trucking the oil back to distribution facilities.

37 trucks of stuff per wellhead, plus frack water (~1 million gallons per frack at about 6 thousand gallons per trip) then trucking the crude to the railroads, which also run on distillate. I'Il bet that alone could account for increased distillate demand,and the hokey GDP increases lately.

[TheAntiDoomer]

Nah, it's all the trucks delivering stuff to North Dakota wellheads and trucking the oil back to distribution facilities.

37 trucks of stuff per wellhead, plus frack water (~1 million gallons per frack at about 6 thousand gallons per trip) then trucking the crude to the railroads, which also run on distillate. I'Il bet that alone could account for increased distillate demand,and the hokey GDP increases lately.