ON THE OTHER HAND

March 26th, 2007

Overall economic news still tends to look pretty good. Here, the Federal Reserve of Chicago said its gauge was up in February:

 

The Federal Reserve Bank of Chicago on Monday said its gauge of the national economy rose in February, boosted mostly by strength in production indicators…The Chicago Fed said the jump in the three-month average toward zero suggests growth in national economic activity was near its historical trend and that inflation pressures over the next year are balanced.

 

The "historical trend" language is a reference to a GDP growth rate in the 3% range. This is good news, but again, it is only for the month of February.