Thanksgiving for more good news.

November 27th, 2010 by Rick Drain

Thanksgiving brought us a short work week of good economic news.
The revised announcement of US GDP growth was higher than the preliminary estimate, so the economy is getting stronger.
The weekly new unemployment claims were lower than they’ve been for years. They’re still much higher than a healthy economy would have, but they’re getting better.
The FDIC didn’t have to take over any new banks. That may be an artifact of the Thursday holiday, though. We’ll see next Friday if there’s a “catch-up” pulse of closures. The trend, though, has been improving, and every bit of other good news that comes out takes some pressure off the struggling banks.
The most comprehensively-informed good news came from the Conference Board. Their Leading Economic Indicator continues to rise, presaging more improvement.