Wednesday, October 20, 2010

Positive Economic News Updates

1. The Leading Economic Index (LEI) for France increased in August by 0.90%.  According to the Conference Board, the LEI for France has been on an upward trend since April 2009.  

Out of 10 countries and the Euro area that are tracked by the Conference Board, all are showing positive LEIs for August except Korea.  The U.S. LEI will be released tomorrow for September.

2. "Colorado's tax collections were higher than expected in September, continuing an overall trend of growth in tax collections for the year. Total year-to-date collections were 5.3 percent higher than collections through September a year earlier and 4.2 percent higher than forecast.

Tax collections for September show that gross general-fund collections were $68.5 million — or 10.5 percent — higher than forecast. Meanwhile, individual income-tax collections came in at $433.4 million, 11.8 percent higher than forecast. Net corporate income-tax collections were 23.4 percent higher than forecast, coming in at $88.9 million."

3 Comments:

At 10/20/2010 2:04 PM, Blogger morganovich said...

i still have some real doubts about using tax collections as a proxy for economic activity. they are heavily affected by changes in rates, new fees, and tax loss carryforwards running down.

they are very difficult to use as an apples to apples comparison.

further, taxes being up only matter relative to state costs. given the pension mess etc, are these really gains in GAAP terms? i have my doubts (though i have not done the math either, so i may be wrong)

 
At 10/20/2010 3:51 PM, Blogger PeakTrader said...

Another positive is:

"Fed Chairman Ben Bernanke and his colleagues are widely expected to launch a new program (of quantitative easing) at their Nov. 2-3 meeting to bolster the economy."

However, similar to Social Security and Medicare, the course has been set to force the American people to become more and more dependent on government for less and less.

Also, Obama's economic policies have generally been expensive and ineffective, or even counterproductive. Consequently, the economy is now too weak to respond to a severe negative shock.

 
At 10/21/2010 4:34 AM, OpenID accountanttampa said...

Little bit of relief there by seeing countries economy in progress but the American economy are yet not stable as it is intended.The banks are still running with a big loss and this the main concern for the American economy.

 

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