BOOM! – AT 10:51 A.M. ET: The economy roars ahead. Of course, it's the Obama economy, you understand. He waved a wand, and this is what happened. From Bloomberg:
U.S. factories expanded in February at the fastest rate since May 2004, indicating sustained strength in manufacturing as demand remains solid, figures from the Institute for Supply Management showed Thursday.
And more from Bloomberg:
Americans’ wallets fattened in January on recent tax cuts, indicating increased spending power may boost the economy this quarter.
Real disposable income, or earnings adjusted for taxes and inflation, advanced 0.6 percent from the prior month, the biggest gain since April 2015, according to a Commerce Department report Thursday.
And from MarketWatch:
The rate of layoffs as measured by U.S. jobless claims fell to the lowest level since 1969, reflecting the strongest labor market since the end of the dotcom boom nearly two decades ago. Initial U.S. jobless claims fell by 10,000 to 210,000 in the seven days ended Feb. 24. Economists surveyed by MarketWatch had forecast claims to total 226,000. New claims haven't been this low since December 1969. The more stable monthly average of claims declined by 5,000 to 220,500, the government said Thursday. That's also the lowest level since 1969.
COMMENT: Not bad at all. I don't know how the Democrats will answer that, except to divert attention from it. After all, every Democrat in Congress voted against the tax cut.
March 1, 2018 |