Friday, August 29, 2003

Even FOOLS think the economy is getting better!

Jeff Fisher of THE MOTLEY FOOL outlines reasons why the economy is doing better than many in the media would have you believe.

A Classic Recovery?
By Jeff Fischer (TMF Jeff)
August 29, 2003
With any luck, the stock market will be off to a strong start in September, gaining support from today's bevy of encouraging economic data. The positive data -- including the Chicago Manufacturing Index and consumer spending numbers -- has not lifted the market much today, though likely because it's the last Friday of August and the start of a holiday weekend.

But the beat goes on: The Purchasing Management Index (PMI) from Chicago, which measures results in the Midwest, rose to 58.9 last month, up from 55.9 and topping the 55.5 estimate. A number above 50 indicates economic expansion. Today's 58.9 is the highest reading since May 2002 and, more significantly, the fourth increase in a row, indicating steam building in the economy. .... more ....

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