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Federal Reserve Predicts Better Economic Prospects for 2010 |
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Written by Users Idea
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Thursday, 12 November 2009 |
The Federal Reserve has in fact forecasted better prospects for the economy for 2010, and the figures released by the respective organization has jolted the stock market considerably, whereby the Dow Jones jumped up 133 points earlier this week. Although the Federal Reserve has downplayed the GDP for the country from 3.5 percent to 2.9 percent, still the figure is much higher than the earlier forecasted 2.5 percent growth.
On the other hand, the Consumer Confidence Index has also gone up considerably, probably due to the fact that consumers are very enthusiastic over the upcoming Black Friday sales. The Consumer Confidence Index has risen from 48.7 to 49.5 for the month of November.
Personally, I believe that the measures that were taken to ensure economic recovery are beginning to show results. Of course, with consumers more confident over the economy now, I’m pretty sure that this might somehow stimulate the sales figures, and this can be the ultimate turning point for companies in the country.
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