Word: baumohl
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...Bernard Baumohl...
...TIME.com Q&A, TIME senior economics reporter Bernie Baumohl goes over the numbers and takes a look down the road - including how this latest batch of news will play at the Fed's next meeting at the end of June...
...Bernie Baumohl: Don't place too much importance on the fact that unemployment statistically went back down in May - a lot of that has to do with the fact the actual labor force - the proportion of the population 16 years of age and older who are either working or looking for work - shrank by nearly 500,000 people last month. The trend in the unemployment rate is still up since September's 3.9 percent, and this doesn't exactly reverse that...
...reading of consumer sentiment about the economy rose to 92.0 from 88.4 in April. Finally, that trend may be on the way up, and consumer spending may well follow with a recovery form its recent slip. It had better - in a TIME.com Q&A, TIME senior economics reporter Bernie Baumohl says the numbers indicate that the U.S. economy is shrinking in the second quarter - meaning, right now. And where it goes in the third quarter will again be up to those consumers...
...Bernie Baumohl: I think everybody expected that 2 percent was too high, and wasn't going to hold up. These numbers confirm that business spending and especially consumer spending was down a little more in the first quarter than we'd thought...