Are things looking up? | Arkansas Blog

Monday, April 26, 2010

Are things looking up?

Posted By on Mon, Apr 26, 2010 at 6:32 AM

A mildly optimistic tone in this NY Times article mirrors anecdotal evidence around town -- busier retail shops, upturn in charitable giving, sale of some high-end homes that had long languished -- that things could be getting better. You think? If so, it could be a November game changer.

After the worst downturn since the Great Depression, signs of recovery are mounting — albeit tinged with ambiguity. Despite worries that American consumers might hunker down for years — spooked by debt, lost savings and unemployment — thriftiness has given way to the outlines of a new shopping spree: households are replacing cars, upgrading home furnishings and amassing gadgets.

Many economists estimate that consumer spending — which makes up some 70 percent of American economic activity — swelled by 4 percent during the first three months of the year, more than the double the pace once anticipated. Some have nudged upward their estimates for economic growth to more than 3 percent this year.

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