You may not recall, but it’s my contention that whenever the economy goes well, Paul Krugman kicks his cat (Yeah I know most of you remember this but sometimes you gotta bring the newbies up to speed):
Anyway, here are some items (distributed by the Bush campaign) which might have that poor tabby soaring:
Wednesday, July 14, 2004: Record Exports, Growing Manufacturing
U.S. Trade Deficit Falls As Exports Hit Record High. “America’s trade deficit narrowed to $46 billion during May, an improvement brought about as U.S. exports posted their best month on record.” (Jeannine Aversa, “U.S. Trade Deficit Falls As Exports Hit Record,” The Associated Press, 7/13/04)
Sales Of American-Made Cars, Engines And Parts Reach Record Level. “Sales of American-made automobiles, engines and parts rose by 1.3 percent, to $7.2 billion, a record high. Industrial supplies, including chemicals and plastic materials, also hit an all-time monthly high of $17.3 billion in May, up from $16.3 billion the month before. Exports of capital goods, such as airplanes and industrial engines, climbed to $28.8 billion.” (Jeannine Aversa, “U.S. Trade Deficit Falls As Exports Hit Record,” The Associated Press, 7/13/04)
Factory Index Logs Broad Gains. “The Chicago Federal Reserve’s gauge of factory activity in the Midwest rose 2.2% in May to a seasonally adjusted 119.3. All four of the index’s sectors–autos, steel, machinery and resources–registered increases in activity.” (“Factory Index Logs Broad Gains,” Investor’s Business Daily, 7/13/04)
Optimism On Economy At Six Month High. “Americans are finally seeing a burst of optimism over the economy after another month of job growth, lower gas prices and relative calm in Iraq. The IBD/TIPP Economic Optimism Index jumped 4.5 points, or 8.5%, to 57.3 in July, a six-month high.” (Brian Mitchell, “U.S. Optimism On Economy At 6-Mo. High,” Investor’s Business Daily, 7/14/04)
Consumer Comfort Hits Five Month High. “The ABC News/Money Magazine consumer comfort index rose for the fourth consecutive week, although the latest week’s gain was just a single point. The index is currently at a five-month high.” (“ABC News/Money Magazine Consumer Comfort Index For United States,” Economy.com, 7/14/04)