Economic Outlook up for 8th Straight Month

(CBS/ AP)  A forecast of U.S. economic activity rose for the eighth straight month in November, a private research group said, signaling the economic rebound will continue next year.

The Conference Board said its index of leading economic indicators rose 0.9 percent last month, up from 0.3 percent in October.

The latest reading beat the 0.7 percent rise that economists surveyed by Thomson Reuters had expected.

The Conference Board said six of the 10 indicators it uses for the index increased last month.

Improvements in financial conditions, building permits for homes and the labor market boosted the index last month, said Conference Board economist Ataman Ozyildirim.

A separate measurement of the growth rate forecast over the past six months has slowed, however. In the half-year through November, the index grew at a 4.7 percent pace, down from the 5.9 percent pace in the half-year through September and the 5.2 percent pace through October.

Economists are worried about whether economic growth in 2010 will match that of the second half of this year with unemployment high, credit still tight and the effects of government stimulus programs ending.

New jobless claims rose unexpectedly to 480,000 last week, the Labor Department announced Thursday - an indication that the job market is still mired in uncertainty.

The economy grew at a 2.8 percent pace in the third quarter. Many economists say gross domestic product will grow between 3 and 4 percent for the current quarter.

The Conference Board forecasts economic activity by measuring claims for unemployment aid, stock prices, consumer expectations, building permits for private homes, the money supply and other data.

[sjc_1]

Economic outlook and growth is centered around GDP. If you trade a lot of stocks of sell overpriced existing houses, then GDP goes up. It is the aggregate of all goods and services transactions. It does not mean that the standard of living for the average person has improved.

[bciss]

Economic Outlook up for 8th Straight Month!!! Yay!! So fantastic!

Now if we could only get reality to agree with the outlook. Of course reality is not favored much these days in Washington or the MSM. Since the reality is that nothing is really better for average people, and in fact all the problems that caused the crisis are still in place. Unemployment numbers among other official numbers are seriously massaged and skewed.

Greed and lies rule the day and have for some time. They were able to create the illusion of prosperity for so long with easy credit and inflated house/ATM values. Since that has faltered and a growing number of people are angry and paying closer attention to the man behind the curtain. They figure say it enough and it will be true or at least the idiots,, I mean people will buy it. Except they have no job, their brother just lost his house and the kids get a lil hungry toward the end of the month.

Have no fear we are told things are better and all is on the up swing. While true for a very small and elite group who were and are able to manipulate the suffering of the many to further engorge vast fortunes. It is not true for the majority and no matter how much the apes in suits in Washington and the propaganda machine,,I mean MSM try to say otherwise,, people are recognizing reality. Not to mention the complete detachment from it that seems to infest Washington and the MSM.

[parisdakar]

Sure, except for unemployment 10% and rising, national debt out of control, real estate prices still falling, the threat of inflation, we're doing great!

[ajvw]

lol

[Stevenapoli7]

I think we're in the eye of the storm. There are still 2 years worth of ARM resets. There will also be more commercial real estate issues. And Detroit isn't ever coming back.