Tuesday, June 13, 2006

The US economy isn't the only one kicking butt

Japan's economy grew better than expected (3.1%) for the first quarter.


Edward Copeland said...

Yes, the U.S. is doing swell: the third month in a row of rising inflation, record trade deficits, the booming stock market has lost all the gains it has made so far this year and is back below 11,000, consumer confidence is sluggish and retail sales have slowed. That's a true monster economy.

Edward Copeland said...

Wait -- there's more. Hot off the wire:

WASHINGTON (AP) — The economy flashed signs of slower growth heading into the summer but that didn’t help alleviate inflation concerns. Stung by rising costs for energy and other materials, some businesses felt inclined to boost their prices.
That was the picture emerging from a Federal Reserve survey, released Wednesday, of the business climate around the country. ¶
Although overall economic activity did expand from the middle of April to early June, “there were some signs of deceleration,” the Fed survey said. ¶
In four of the 12 Fed districts surveyed — Atlanta, Kansas City, Richmond and San Francisco — economic activity moderated, the report said. Seven districts — Boston, Chicago, Cleveland, Dallas, Minneapolis, New York and St. Louis — said economic growth was about the same as in the Fed’s last report, released in April. Only one district reported an improvement in economic conditions: Philadelphia.

Jeffrey Hill said...

I've never seen someone as hellbent as you to show the glass as 1/8 empty. Does that mean the Japanese economy didn't grow at 3.1%?

Edward Copeland said...

I have no idea about how Japan is doing, I was taking issue with your headline about how the U.S. was doing, since kicking butt it surely isn't.