Economists Seem Giddy -- Are They On To Something, Or Just On Something?
Wasn’t it just last month that economists were crying in their beers, telling us the world was ending, and it didn’t matter because no-one had jobs? High jobless figures and the credit crisis in Europe had everyone too panicked to buy much. The global economy was in the dumps, the stock market wasn't functioning correctly, the housing market was still falling, and the best advice seemed to be to hide in a closet, if you still had one handy.
Well, that was last month. Now the New York Times says a “broad range of experts and forecasters” seem to think the economy’s going to make a slight – albeit really slight -- turn upward soon. Here’s what they point to.
Oil prices have fallen:
The housing market appears to be stabilizing:
Case-Shiller HPI: National data by YCharts
New jobless claims are at their lowest level in four years:
US Initial Claims for Unemployment Insurance data by YCharts
And car sales are surging, good news for General Motors (GM), Ford (F) and all those folks flocking to buy a Fiat for its new in-car espresso maker.
US Auto Sales data by YCharts
From the editors of YCharts.YCharts Pro Investor Service includes professional stock charts, stock ratings and portfolio strategies.
Filed under: Economic Watch
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