By Maxine Shapiro, KERA 90.1 business commentator
Dallas, TX – It's Friday so "It's Only Money," a review of the big and not-so-big stories of the week. I'm Maxine Shapiro with KERA Marketplace Midday.
No one can quite figure out what the economy's doing. There's mixed signals everywhere, and investors are holding their breath hoping this summer's upswing was not an aberration. The GDP - Gross Domestic Product - which is considered the best barometer measuring the health of the economy, grew more than expected in the second quarter. And economists continue to be dazzled by the rise in home sales.
However, yesterday's weaker-than-expected number on durable goods orders, items that are made to last longer than three years, proved manufacturing is more cautious than previously thought. This was the first decline in orders since April. And no one really cheered about the lower amount of first-time jobless claims. That little storm out east prevented people from going to the unemployment office. But the good news is, tightwad corporations are loosening their grip and spending - in fact, more than they have in three years. Putting this whole equation together, no ones got a clue what's going on.
How 'bout those boy and girls on Capitol Hill, rallying together for the good of the common man? I can think of a whole lot more pressing items than a national "Do Not Call" list, but you got to hand it them, they're not giving up. They vote for the list, one-third of all households in the country sign up, a federal court rules it unconstitutional - Congress reinstates it and another federal judge rules against it. Now, if they move this feverishly on the reimportation of prescription drugs from Canada, I'd say someone in Washington is actually listening to their constituents.
On a much prettier note, if you've never driven through Richardson in the springtime, you don't know what you're missing. There are wildflowers everywhere - in the parks, on the medians, even along Central Expressway. And in spite of the fact months on months you could hear echoes in the once bustling Telecomm Corridor, Richardson will fork out almost $26,000, so next spring the splendor will not be missed. Thanks, guys.
And, pardon my accent: y'all enjoy the State Fair now! For KERA Marketplace Midday, I'm Maxine Shapiro.
Marketplace Midday Reports air on KERA 90.1 Monday - Friday at 1:04 p.m.
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