2004 Will Be USA's Best Year Economically in Last 20 Years!

yahooooooo ^

[ConservativeMan55]

2004 Will Be the U.S.'S Best Year Economically in Last 20 Years, The Conference Board Reports in a Revised Forecast Thursday December 11, 11:01 am ET

NEW YORK, Dec. 11 /PRNewswire/ -- Revising its year-end economic forecast sharply upward, The Conference Board today projected that real GDP growth will hit 5.7% next year, making 2004 the best year economically in the last 20 years. The forecast, by Conference Board Chief Economist Gail Fosler, expects worker productivity, which set a 20-year record in the third quarter, to rise at a healthy 3.6% next year. That would follow a gain of 4.3% this year.

The economic forecast is prepared for more than 2,500 corporate members of The Conference Board's global business network, based in 66 nations.

KEY BAROMETERS FLASHING GROWTH

"Growing business spending and continued strength in consumer spending are generating growth throughout the U.S. economy," says Fosler. "This burgeoning strength is reflected in The Conference Board's widely-watched Leading Economic Indicators, the Consumer Confidence Index and the Help-Wanted Advertising Index. While the labor market, a critical factor in sustaining growth, is growing slowly, a pick-up in hiring may already have begun."

Real consumer spending, which continues to fuel growth, will increase at a 4.7% pace next year, up from about 3.2% this year. Another gain of 4.3% is projected for 2005.

While the U.S. economy is expected to generate more than one million new jobs next year, the unemployment rate will edge down only slightly, averaging 5.6% in 2004.

The Conference Board forecast notes that as the U.S. economy bounces back, so is Europe, although growth will be subdued compared to most other major parts of the world. "For all the concern about a weak dollar," says Fosler, "the dollar will be worth more than the euro by the end of the year."

Real capital spending, which will rise by only 2.7% this year, will climb 11.7% next year and another 8.6% in 2005. Pre-tax corporate operating profits will top $1 trillion next year, up from a projected $928 billion this year. Another trillion-dollar-plus gain in profits is expected in 2005.

The continued recovery in business profits, which was a key ingredient in funding new investment (crucial in making 2004 a strong growth year), depends on price relief. Business profits will benefit from both improved volume and recovering profit margins in 2004, as inflation creeps back toward 3% by the end of the year.

Source: Revised Conference Board Economic Forecast December 2003

[petuniasevan]

[ConservativeMan55]

Did he say he saw it on Free Republic?

[ConservativeMan55]

I get the idea. Its gonna look good!

LOL!

[Recovering_Democrat]

Tom Daschle is saddened, deeply saddened.

[TheBigB]

I wouldn't give up on Vermont just yet...they did elect a Republican Governor (Jim Douglas) to replace Deanie. :)

[wayoverontheright]

After all, didn't he (bin Laden)want the markets to crash with 911?

That was precisely the goal, and the resilience of our economy is one of the two main reasons attacks have ceased on our soil, the other one being Bush kicked the S#!T out of two countries.

[ConservativeMan55]

[lepton]

He may not win a single town!

Oh, sure he will. Though he'll be in more of a battle with the Greens in most of those I'm thinking of.

[ConservativeMan55]

LOL!

[ConservativeMan55]

[Grampa Dave]

fyi

[spokeshave]

New tag for 2004

[GeoPie]

"the last jobs reports was not good at all, there is no denying that."

ROTFLMAO!!!Please, you are killing me!!!! You can't be serious!

[ConservativeMan55]

LOL!

[gathersnomoss]

I haven't heard from Tommy lately. He seems to magically disappear if there is nothing negative to say.

[ConservativeMan55]

Gee I wonder why?

[jslade]

bttt

[RaginRak]

"Everybody knows Bush F'd up the F'n economy!"

....."but when I was serving in Vietnam"

[finnman69]

"F**k the economy!"