Economic News Week: September 13, 2010
By Tony Stevenson/SWBC Mortgage
Stocks finished Friday’s session higher and posted gains for a second week in a row. New unemployment claims and other new economic data eased fears of a dip back into a recession last week as well. Hiring by private companies over summer was better than expected. The pace still isn’t enough to bring down the high unemployment rate, but it does indicate economic expansion. It was noted in the S.A. Express News that Stock prices have staged a September rally and has put the DOW back about even for 2010. Texas drivers are benefiting from lower gas prices, also which are expected to fall further as the summer season ends. The additional savings in gasoline expense per household will add to deflated pocket books. Shoppers are enjoying discounted prices in stores and have helped lift Retail Sales in recent months. Some analysts think that discounts will still be the driving force to get shoppers to spend even more during the holiday season. “At the moment, we can rule out a double-dip for the economy,” Chris Rupkey, a chief economist said. If Congress approves the Administration’s current transportation and jobs bill, we could see future job growth on the books in time for the holidays.
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