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Find out what’s happening in the economy and financial markets and how it affects you and your business!
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Wednesday, May 7, 2008
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The U.S. economy barely grew at a 0.6% real (after inflation) annual rate during 2008’s first quarter. This compares to identical growth in the previous quarter. Recession in 2008? A mild recession may be underway, though we may not know for sure for months. We expect modest U.S. economic growth to return in 2008’s second half
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The U.S. unemployment rate dipped to 5.0% in April from 5.1% in March. The U.S. economy lost another 20,000 net jobs in April, much better than the consensus forecast of a loss of 75,000 jobs. The estimated net decline of 260,000 jobs during 2008’s first four months was a painful contrast to the gain of 374,000 net new jobs during 2007’s first four months
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Consumer prices in 2007 rose 4.1%, the highest annual climb since 1990. We expect a more modest rise of around 3.0% this year
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The Federal Reserve cut its important federal funds rate seven times by a total of 3.25% between 9/18/07 and 4/30/08, with the rate falling to 2.00%. We expect the Fed to now move to the sidelines for the balance of the year
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We remain bullish on stocks
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1366 S Legend Hills Drive, Suite 150 • Clearfield, UT 84015
(801) 614-0403 • Toll Free 1-888-847-3346 • Fax (801) 614-0218 • info@thredgold.com
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