Purchasing management software
com/news/Economy-dips-at-07-percent-apf-1448960192.html? x=0 “Economy dips at 0.7 percent pace in 2Q” “Growth should be solidly positive,” said Mark Vitner, economist at Wells Fargo Securities.
Gross domestic product measures the value of all goods and services from machines to manicures produced in the U. S. It is the best estimate of the nation’s economic health. A main reason for the second-quarter upgrade: businesses didn’t cut back spending on equipment and software nearly as deeply as the government had thought. Consumers also didn’t trim their spending as much.
But on Wall Street, a surprise drop in the Chicago Purchasing Managers Index, considered a precursor to the national Institute for Supply Management index to be released on Thursday, sent stocks reeling. The Dow Jones industrial average lost more than 80 points in midday trading, and broader indices also fell.
Many analysts predict the economy started growing again in the July-September quarter, due partly to President Barack Obama’s $787 billion stimulus package and the government’s now defunct Cash for Clunkers program, which had ginned up auto sales. It offered people rebates of up to $4,500 to buy new cars and trade in less efficient gas guzzlers. Earlier this month, Federal Reserve Chairman Ben Bernanke said the recession, which started in December 2007, is “very likely over.
” I will never believe Bernanke. Don B, you don’t realize that Stocks have nothing to do with the solidity or recovery of the economy.
The shift in stocks shouldn’t be looked at too much when dealing with economic recession/depression. It’s only an indication of how people spend money, not the value of that money, or how it’s used, or what it’s creating.