Economy Growing Faster than Anticipated
Treasury Secretary Says Economy is Growing Faster than Anticipated
April 19, 2010- Last week's economic data continued to be modestly positive indicating a steadily rebounding economic environment. . Manufacturing-and exports continue to lead the recovery with output at factories in March climbing 0.9% and industrial production rising 0.1%. March's retail sales also moved higher than anticipated, an indication that consumers are regaining confidence in the economy. A boost in car sales was the largest driver for the increase.
The Dow moved over 11,000 last week, its highest level since the 2nd quarter of 2008. Treasury Secretary Timothy Geithner made several remarks this weekend about the economy growing faster than expected which could add some additional volatility to the bond market. Finally, Goldman Sachs was sued by the SEC for potentially fraudulent activities related to the issuance of mortgage backed securities. The case will be likely be watched very closely over the coming months as it unfolds.