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The U.S. economy roared ahead in the third quarter, growing at its fastest pace in nearly 20 years, fueled by greater consumer and business spending. Third-quarter gross domestic product, a measure of all the goods and services produced in the U.S., rose at a sizzling 7.2% annual rate, more than double the 3.3% rate in the second quarter, the Commerce Department said Thursday.
I’ve seen the results from this growth, as our company is busier than we’ve been in a couple of years. We’ve added several people to the staff, and people can get as much overtime as they want.
The stock market, both the DOW and the NASDAQ, is up close to 20% for the year – after being down almost 30%. Intel is up 50%. Both Dell and Oracle are up 20%. Interestingly enough, Microsoft is up only slightly from a year ago. I wonder why? Checkpoint (I have some of these shares) is up 20%. By the way, does anyone remember my Red Hat inquiry a month or so ago? RHAT was trading at $8 at the time; it went over $15 today. If I remember correctly, Lordinfidel recommended to bet the farm on it. (Too bad I didn’t have a farm.) The DOW has been trying to break the 10,000 barrier for the first time in a couple of years.
As I said, I see the results of an improved economy, and more importantly, I see the stage being set for more growth in the future.
Have you noticed the improved economy as well? Is there more tech spending on the horizon? I think yes.
