See? I told you so! Economic turn-a-round begins
Fun way to track the economy...Granted I don't know about the accuracy as I do not know how Gallup gets their numbers....Is indeed to log onto Gallup.com. Check out their economic indicators as well as Pres. Obama's job performance.
Anyhow... We have some good news that unfortunately doesn't by itself mean anything yet.. Because the good news we got today could fall apart in the next month/quarter...
1) Consumer Spending and Incomes UP in Jan.
2) Slowdown in Construction/Manufacturing not as bad as expected
Investors are banking on January's numbers as Flukes.... While I can't predict March clearly yet, I predict February to actually RIVAL /BEST the January numbers.
I think spending surged in February...to .8% - 1%.
Don't underestimate the magic of "Christmas Gift Cards" and "Discounts" and American's need to feel and be happy again.
Don't think we have an economic turn-a-round brewing? Tell that to Best Buy's stock price up $11 (even with today's sell-off) from its 52-week low. That is saying something!