We have been able to enjoy much of the economic news floating around lately. Of course there will be ups and downs even in the best of times, however when we are grabbing for any news that provides stability as we move futher and further from the longest recession in history good news is uplifting. So here is my uplift for the day: My daily economic report from Elliot Eisenberg is we may see mortgage interest rates rise but the artifical low rates we’ve experienced from gov interference is waining, this is good:
Despite the weak December jobs report, the Fed will announce later this week that it’s reducing its monthly purchases of Treasuries and mortgage backed securities by another $10 billion to $65 billion/month, down from $75 billion/month in mid-December. Manufacturing continues to improve, Q4 GDP will be 3.3% or better which is good, net exports are rising, as is industrial production and purchases of core capital goods. Bye bye Bernanke.
And reported in Autoweek by Nick Bunkley, Automotive News on 1/28/2014, Ford Automotive is reporting on sales of nearly 2.5 million vehicles in the US>
Ford posted net income of $7.2 billion for 2013, up from $5.7 billion in 2012. Its automotive operations generated a pretax profit of $6.9 billion on the year, the highest in more than a decade. It was Ford’s 18th consecutive profitable quarter. Revenue increased 4 percent in the fourth quarter, to $36.3 billion, and 10 percent for the year, to $146.9 billion.
“We had an outstanding year in 2013, demonstrating that our One Ford plan continues to drive solid results and profitable growth for all,” Ford CEO Alan Mulally said in a statement. “We are well positioned for another solid year in 2014.”
This is great news nationally and locally we will keep rolling along with hopes that Alaska can breathe easier given the improving economic climate in the Lower 48. Hope they can stay warm as we experience the extended warm January thaw.
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Till tomorrow; Russell