Some mixed news this morning:
National output grew at a seasonally adjusted annual rate of 3.2 percent last quarter, the Commerce Department reported Friday, after growth of 5.6 percent in the fourth quarter of 2009 and 2.2 percent in the third quarter.
The steady growth has quelled fears that the downturn is not quite over.
“It’s been a case of, when will they stop worrying and learn to love the boom?” said Robert Barbera, chief economist at ITG, who said that many economists have been too hesitant to acknowledge the steady recovery because the job market is still weak.
It seems some economists not named Robert Barbera have decided to hold off on the champagne until unemployment is under double digits in half the country. I’d call that prudent.
But another round of bank bonuses for you all!