Decent economic news, it appears:
The economy logged a solid 3.8 percent growth rate in the first quarter of 2005, a performance that was better than previously thought and a fresh sign the expansion is on firm footing.
The new reading on gross domestic product, released by the Commerce Department on Wednesday, marked an improvement from the 3.5 percent annual rate estimated for the quarter just a month ago and matched the showing registered in the final quarter of 2004.
GDP, the broadest gauge of the economy’s health, measures the value of all goods and services produced within the United States. Stronger spending on housing projects, more investment by business in equipment and software, and a trade deficit that was less of a drag on economic growth all played a role in the higher first quarter GDP estimate…
Although economic activity is solid, job creation is choppy. Employers boosted payrolls by just 78,000 after a hiring spurt of 274,000 in April. May’s job gain was the weakest in almost two years. Economists offered various reasons for May’s slower job growth, including the toll of high energy prices.
It is just so clear, to me, at least, that our future economic viability is dependent on an energy solution.