After attending the Economic Outlook Conference last week, I have continued to watch the aspects of the U.S. and world economy that I learned about at the conference. Our economy indeed has been 'feeling the blues' but we have had some encouraging news in the past few days.
The unexpected jump in GPD for Q2 has slowed some recession fears but as I learned last week, we are really not sure exactly when and how severe a recession might be. I did glean from the conference that a recession should be mild and followed by a strong recovery. The subtitle for Eli Lustgarten's presentation was "How Much Pain Before Any Gain" says it clearly.
Another theme that I am following now is the comparison between the U.S. economy and European and worldwide economy. A stronger world economy and weak dollar has contributed to still increased exports which probably played a big role in the GDP rise in the second quarter.