Kitsap Real Estate Local Area Report - May 2010
By Admin
The economy in the last month of spring has been pretty volatile, with several factors working against each other and no one able to pick the winners and losers. The latest Pacific Northwest report from economist William Conerly at Conerly Consulting shows low to moderate gains in GDP, weak improvements in employment, a steady rise in discretionary spending, strong gains in industrial sales, and improved corporate profits. Federal Reserve Chairman Ben Bernanke, speaking before the House Budget Committee last week, said technically we’ll be in recovery, but with near double digit unemployment there will still be a lot of financial stress. He also reminded the committee that the US Budget is on a path of unsustainable debt, while at the same time not giving Representatives cover by suggesting spending cuts or tax increases that might make things better.
http://bprowse.com/kitsap_market_blog/view/1102/kitsap_local_area_markets_in_may_2010__updated_
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