Economy Keeps Right On Chugging

Boosted by the falling price of gasoline, consumer prices fell by 0.6 percent during November, the biggest drop since July 1949. That's just more of the excellent news about the American economy. It's not getting as much news play as it should, but it can't be avoided much longer. The economy is booming.

Along with the drop in the Consumer Price Index, the Federal Reserve said output at the nation's factories, mines and utilities rose a solid 0.7 percent last month following a 1.3 percent rise in October.

The Bureau of Labor Statistics reports national unemployment remained steady at a relatively low 5%, with 215,000 new nonfarm jobs created across the country.

The stock market is riding a very high wave, with the Dow flirting with the magic 11,000 mark.

Despite the devestating Gulf Coast hurricanes, the nation's Gross Domestic Product (GDP) rose by a robust 4.3 percent during the July-to-September period. The GDP is the best measure of economic standing, measuring the value of all goods and services produced within the U.S.

Sales of new homes jumped to an all-time record in October, up 13 percent from the previous month, the largest increase in 12 years.