Wednesday, December 22, 2004

Good Financial Times

Despite the gloom and doom from the Left, the economic health of this country is excellent. In case you missed it, the stock markets had a very good day yesterday. The Dow closed at 10,759. That's the highest close since mid 2001. The S&P market was up yesterday, and all three (Dow, S&P, Nasdaq) are performing well.

The economy is getting stronger, as evidenced by the increase in our gross domestic product (GDP). That measure of economic strength grew by 4 percent during the third quarter of 2004, exceeding estimates. That works out to about $106.3 billion in new econimic business. Gross domestic product measures the value of all goods and services produced in the United States and is the broadest barometer of the country's economic health. Estimates for fourth quarter growth are 5.5 to 4.5 percent.

During the third quarter, consumer spending was up a whopping 5.1 percent. On the job front, 415,000 new jobs were created in October and November.

Just a little more good economic news to brighten the holiday season.