Economic Activity in the U.S. Increases for Fourth ... - Bankruptcy

A mysterious but important economic indicator increased in January for the fourth straight month, adding fuel to the claims of some analysts that the economy is slowly, but steadily, getting back into shape.

Last week, the Conference Board said that its index of important economic indicators rose 0.4 percent last month, pushing the index to its loftiest position since the summer of 2008, right before the economic crash.

The steady improvement has led to a slight decrease in the number of people filing for bankruptcy, but some experts caution that rising levels of consumer debt portend an eventual uptick in bankruptcy filings.

According to a report in the Los Angeles Times, the Conference Board?s announcement was good news for an ailing economy:

• Measuring method. These ?leading indicators? measured by the Conference Board include a wide range of obscure financial factors, and are designed to predict economic conditions three to six months in the future. According to Ken Goldstein, a Conference Board economist, the recent data ?reflect an economy that started that year on a positive note.?
• Actual indicators. Sources indicate that the indicators that all experienced a strengthening during the latest measuring cycle included: a credit index, building permits, average factor hours worked per week, the spread in interest rates, stock prices, and two different calculations of manufactured goods. The spread between short-term and long-term interest rates was the most promising of all the indicators. The largest negative indicator, though, was consumer confidence, which experienced a notable drop.
• Unemployment rate drops. In addition to the improvement in the indicators listed above, the Los Angeles Times also observes that the unemployment rate took a promising dip to 8.3 percent, which is its lowest position in three years. This represents the addition of 243,000 net jobs to the American economy.
• Other good news. Moreover, total car sales are on the rise, factories are producing goods at an increasingly swift clip, and total applications for unemployment aid are on the decline, although this may be partially attributable to the decision made by some Americans to simply drop out of the job market altogether.

So, the economic news is fairly promising. Consumers, however, have begun racking up high levels of debt, particularly in credit cards.

Increasing use of credit by consumers is good news for some businesses, but bad news for many individual consumers.

Fortunately, though, Chapter 7 bankruptcy offers an opportunity for consumers to try to shed some or all of their unsecured debts. For more information about the potential benefits of Chapter 7, contact a local bankruptcy lawyer today.

Source: http://www.clearbankruptcy.com/blog/economic-activity-in-the-u-s-increases-for-fourth-straight-month/

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