Good signs of economic recovery
Virginia Postrel provides useful links suggesting that the two traditional harbingers of the American economy — California and small businesses — are feeling the positive effects of the recovery. From the California story: Overall, California businesses exported $27.1 billion worth of goods in the quarter, with an array of high- and low-tech product categories seeing ...
Virginia Postrel provides useful links suggesting that the two traditional harbingers of the American economy -- California and small businesses -- are feeling the positive effects of the recovery. From the California story:
Virginia Postrel provides useful links suggesting that the two traditional harbingers of the American economy — California and small businesses — are feeling the positive effects of the recovery. From the California story:
Overall, California businesses exported $27.1 billion worth of goods in the quarter, with an array of high- and low-tech product categories seeing substantial gains. Exports of iron and steel products jumped 60%, nuts and fruits were up 33%, and sports equipment and games rose 9%. California-made apparel was one of the few items that saw a significant decline in exports. Across industries, one common thread tied many companies’ increases in exports: China. In the second half of last year, China became California’s fourth-largest export destination, moving ahead of South Korea. The activity has since accelerated, as China’s rapid industrialization and production are generating a huge appetite for commodities and consumer goods.
UPDATE: Bloomberg has some great news about industrial production as well. This is the most intriguing paragraph:
Inventories at U.S. businesses grew 0.7 percent in March to a record level, the Commerce Department reported today, while sales rose 2.9 percent, the biggest jump ever. That brought the ratio of inventories to sales at manufacturers, wholesalers and retailers down to 1.30 months, the lowest on record.
LAST UPDATE: The National Federation of Independent Business summarizes their Small Business Economic Trends for May by saying: “Small-business owners are laying the foundation for what could be the best economy in 20 years.”
Daniel W. Drezner is a professor of international politics at the Fletcher School of Law and Diplomacy at Tufts University and co-host of the Space the Nation podcast. Twitter: @dandrezner
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