Thursday, December 01, 2005
There was a boatload of economic statistics out today, and most of them are positive. Here were some examples:
- Disposable personal income up, consumption up more ... which means savings is down. You can take that as "oh, this can't continue, oh woe is us!" or "consumers are confident enough to spend what they haven't earned yet, things are good." I'm definitely in the second camp.
- WalMart sales are up. So a majority of Americans polled think it's a bad company, but they still buy? Target's image isn't helping it much. Other store results are equally mixed, so it isn't gangbusters for everyone out there, but overall for November up 3.5% is a decent gain.
- People worried about a housing bubble won't like this. I have yet to make up my mind whether or not this is a bubble, and that's all I'm saying. I just haven't thought about it enough.
- The unemployment insurance claims data looks OK.