Economic Update Before The Election Looks Good For Obama

After listening to the radical Republicans say how bad the economy is, let’s look at the actual numbers that are coming out this week which show modest but steady improvement.

In report by CNBC, “The private sector created a better-than-expected 158,000 jobs in October, while jobless claims edged lower and productivity rose about as much as expected.”

The jobless claims came in this week at 363,000, a number consistent with modest job growth.

U.S. October ISM manufacturing index rises to 51.7 from 51.5. Chrysler reported the best September since 2007, with a ten percent growth in sales.

The Institute for supply management shows modest growth in the economy. Consumer confidence also rose to 72.2, which is the best number since February 2008, showing once again you are feeling better than you did 4 years ago.

Finally, construction spending also rose 0.6%, which was also inline with expectations.

Yes, this is all good news heading into the election on Tuesday. The last data point will be in on Friday, which is the BLS’s job numbers. I am figuring a static number or a slight increase or decrease in the overall unemployment situation, nothing that is dramatic.