Gary's Blog

Thursday, September 3, 2009

Economic Recession is OVER

There is so much more evidence, just in the past two days:

1. Factory Orders up 1.3% in July, after a 0.9% increase in June.

2. Productivity of U.S. factories rose 6.6% in the April-June quarter, the largest advance since the summer of 2003.

3. Hawaii state bankruptsy filings increased at their slowest pace in 15 months in August. The state of Hawaii had the second-lowest bankruptcy filings per 1000 in the country, only behind Alaska. Between the start of July 2008 and the end of June 2009, there were 2.07 bankruptcies per 1000 population.

4. Oahu hotel occupancy ranked first among competitive international island destinations through the first half of the year, and fifth in major country and regional destinations around the world.

5. Home sales nationwide rose 12% compared to a year ago.

6. The manufacturing index reported by the Institute for Supply Management showed the highest number for its manufacturing index since June 2007. New customer orders jumped to a level not seen since late 2004!

7. U.S. residential construction spending just had the best showing for home builders in 10 months.

8. The National Association of Realtors said the index of sales contracts signed in July for previously occupied homes rose 3.2%. Coldwell Banker Island Properties just had our best month since 2007, with 66 new escrows opened in the month of August!

9. Wall Street seems to agree with the title of this Blog, as we just had a month-long rally in the stock market.

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