Signs point to an improving financial situation
Economy might be gaining traction, new data suggest
By Zachary A. Goldfarb and Michael A. Fletcher, WashPost, Thursday, August 9, 7:34 PM
After a spring and summer of weak economic indicators, a flurry of fresh data suggest key sectors of the economy might be gaining traction, just as the battle for the White House enters the final round.
The long-moribund housing market has bustled to life, with prices and new-home construction rising in recent weeks. Hiring, so weak earlier this year, picked up last month. And on Thursday, the government reported an acceleration of a downward trend in the number of people seeking unemployment insurance, as well as a sharp improvement in U.S. exports.
Together, the signs point to an improving economy, a potentially important shift for President Obama’s re-election campaign.
“The better the economy between now and November, the better it is for Democrats and Obama,” said Ray C. Fair, a Yale University professor who studies the relationship between economics and electoral outcomes.
(More here.)
After a spring and summer of weak economic indicators, a flurry of fresh data suggest key sectors of the economy might be gaining traction, just as the battle for the White House enters the final round.
The long-moribund housing market has bustled to life, with prices and new-home construction rising in recent weeks. Hiring, so weak earlier this year, picked up last month. And on Thursday, the government reported an acceleration of a downward trend in the number of people seeking unemployment insurance, as well as a sharp improvement in U.S. exports.
Together, the signs point to an improving economy, a potentially important shift for President Obama’s re-election campaign.
“The better the economy between now and November, the better it is for Democrats and Obama,” said Ray C. Fair, a Yale University professor who studies the relationship between economics and electoral outcomes.
(More here.)
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