The news is hitting the business world with excitement. Here's a segment of the coverage from Bloomberg.com:
"Surging exports and business spending propelled U.S. growth to the fastest pace in more than a year before turmoil in the credit markets forced the Federal Reserve to warn of a bleaker outlook.
Gross domestic product rose at a 4 percent annual rate in the second quarter, the Commerce Department said in Washington, up from an initial estimate of 3.4 percent. The median forecast of economists polled by Bloomberg News was 4.1 percent.
The figures may be the peak of the expansion for this year as the cost of borrowing increased in August and the Fed said that risks to growth ``increased appreciably.'' In a sign that the job market is weakening, the Labor Department said today showed claims for unemployment benefits climbed to the highest level since April. A further report showed house prices in the second quarter rose at the slowest pace in a decade.
What does all this mean to entrepreneurs? It's a good time to start a business.
The economy is strong. Opportunities exist. Don't be scared...if you've got a good idea, and you have the foundational skills to get the job done in your respective industry.
Go for it! Our economy is solid, and growing.
Comment Preview