THE LAST quarter of 2011 saw a definite improvement in the US economy — with consumer spending up, and companies finally replenishing their inventories.
GDP increased by an annualised 3%, with improved sales for durable goods and new homes.
Petrol prices have been cheaper, since mid-2011; and the US jobless rate was the lowest in nearly 3 years.
Therefore, with improved employment figures, consumers have felt more comfortable spending — which represents around 70% of US economic activity. [Read more…]