Saturday, March 02, 2002

Americans' spending and incomes show increase, government reports March 1, 2002 1:11 p.m. EST "Consumers spent briskly in January as their incomes rose solidly, the Commerce Department reported Friday. The news was a fresh sign that the U.S. economy, shaken by the recession and terrorist attacks, is on the road to recovery." "The department reported that spending by consumers, which accounts for two-thirds of all economic activity in the United States, rose 0.4 percent last month after being flat in December." "At the same time, Americans' incomes, which include wages, interest and government benefits, also increased by 0.4 percent, the largest advance in six months. Incomes rose 0.3 percent in December." ... [more] 10:58:04 AM    comment  []

U.S. manufacturing sector shows increase after long slump March 1, 2002 1:09 p.m. EST "A measure of U.S. manufacturing activity rose for the first time in 1 1/2 years in February thanks to a rise in orders and increased production." "The Tempe, Ariz.-based Institute for Supply Management, formerly known as the National Association of Purchasing Management, said its index of business activity rose to 54.7 in February from 49.9 January. Analysts had been expecting a reading above 50 for the first time since July 2000." "'It looks like the manufacturing side of the economy is finally back on its feet' ... [separately] consumer spending, which accounts for two-thirds of all economic activity in the United States, rose 0.4 percent in January. Americans' incomes, which includes wages, interest and government benefits, also edged up by 0.4 percent." "The latest batch of positive economic data offers further evidence that the recession, which officially began last March, might be near an end and could be the nation's mildest downturn ever, analysts said. ... Of the 20 industries tracked by the ISM, 14 reported overall growth last month ... " "'If you're going on the economic fundamentals, it's probably permanent. But the political fundamentals around the world are still very shaky. Anything could happen with the environment we're in, especially with the terrorist threat lingering.'" ... [more] 10:55:44 AM    comment  []