Economic reports point to bumpy recovery

[steven johnson]

The recovery sputters along even with huge federal stimulus programs. This leaky tire is still not fully inflated.

Mon Oct 26, 2009 2:00pm EDT
By John Parry
NEW YORK (Reuters) - Regional economic reports on Monday suggested the U.S. economy has clambered back to levels associated with the end of recession, but recovery will be patchy and may prove fleeting.

Economic activity and manufacturing data for the U.S. Mid West and Texas hinted the impact of the global financial crisis is slowly abating as the economy emerges from the longest recession in 70 years.

However, an index of national economic activity slipped on a monthly basis and a Texas manufacturing output index fell.
"Those kind of reports tend to support the argument that this recovery will be more uneven and less V-shaped, but with the caveat that these are somewhat narrow regional surveys," said Kevin Flanagan, fixed-income strategist for global wealth management with Morgan Stanley in Purchase, New York.

According to the median forecast of economists polled by Reuters, the U.S. economy grew 3.3 percent in the third quarter after shrinking 0.7 percent in the second quarter.

Economic reports point to bumpy recovery

[notesdev]

1. Actually...

they point to NO recovery, but you won't hear that from any politician or talking head