There are more signs that the economy is on the upswing. There is increasing evidence that we will enter 2004 with a strong economy that includes job growth (sad news only to the legion of democratic presidential hopefuls).
First, business inventories are up in September for the first time in six months. Also, a new report on small business optimism from NFIB shows that the anticipated growth is now occurring, which is making small business very bullish on the future.
"The strong growth predicted by the August Optimism Index materialized, with GDP up a sizzling 7.2 percent at annual rates, the best since Reagan and the early 1980s," said William Dunkelberg, NFIB's chief economist and author of the survey. "The economy is hitting on all cylinders now. Fourth quarter growth will be very strong based on the October Index reading of 104."
Business owners are reporting that they are already adding jobs, and plan to expand facilities in the near future. Good news, indeed.
