I attended a Webinar titled " Real Trends Q4 Economic Webinar" "presented by Steve Murray of Real Trends , featuring Carter W. Murdoch, PhD, VP/ National Business Development Executive, Bank of America Strategic Business Alliances recently. He shared his analysis and predictions in a fantastic presentation. Here are a few of my notes:
US consumer savings: "Bottom line: we have witnessed an increase in the savings rate the likes of which we have never seen since data tracking began."
"L" shaped recovery continues with a few bumps. But we are seeing growth.
Growth is GOOD!
Seven swans a swimmin'......
"Spending on private construction projects rose 0.8 percent to a $481.78 billion rate, double September's 0.4 percent increase, and included a 2.5 percent increase in spending on new-home building." And "U.S. construction spending posted a surprisingly robust 0.7 percent gain in October, matching the prior month's rise as investment in both public and private projects increased, the Commerce Department" reported."
This is very positive news on many fronts. Real estate development is the fuel for many other industries and an increase in construction creates jobs. From the inception of the projects, to the labor and to the eventual sale(s)....it is fuel for the economy and multiplies exponentially over time. This is very good news.
Six geese a-laying.............
Jobs Market Improves...From the Private Sector:
The economy created 93,000 private sector jobs in November, pointing to the first signs of a turnaround in the labor market, according to the latest report from ADP and Macroeconomic Advisors. " CNBC reports. "This year, job cuts are well below 2009's levels". I certainly wish it could be a straight upward trending graph, but we are moving forward and upward. I also wish a magic bullet that would create more jobs would happen quickly, quickly, quickly. Reminds me of when I was a teenager with my first car...I had to learn, painfully, that the car runs better with gas in it.
My hope for 2011 is: More " gas" for the economy.
Five golden rings.............
Sales for General Moters "rose 21 percent compared with the same brands last November" according to CNBC.
Actually, all major brands (except Toyota) reported strong US sales. It would seem that automakers are making cars that Americans want...and Americans are buying them. Clearly, the industry is rebounding. I think we are a long way down the road from a scene I will always remember...and that would be all three big US brands flying to Washington DC in their private jets to beg for money from the taxpayers.
"Industry analysts say the solid sales numbers, combined with a strong October, show that consumers who have kept their jobs through the economic downturn are now feeling confident enough to spend money and replace older vehicles".
Headway, however slow...is still headway.
Four calling birds............
Black Friday- The Shops Are Merry!
According to CNBC's Christina Cheddar Berk, there were plenty of reasons for retailers to be merry. Shoppers came out in droves and sales exceeded analysts' estimates. A new term has been coined "self gifting", and with the pent up demand from the past three years of uncertainty, it sounds like "gifting" is an all encompassing term.
Interesting......it would seem like the teens are leading the charge, with Abercrombie winning the prize.
Also interesting....I noticed in the news clips that it seemed like there was a lot of actual cash changing hands. IBD reported that only about 16 percent of purchases were through credit cards....consumers are using cash, cash, cash.
Three French hens...........
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