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Orange County Story



Main Street v. Wall Street: The Economy

Credit: AP Online

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UNDATED

There are more positive signs that the economy is trending up, but for many on the front lines of the economic battle very little has changed.

A rise in the Gross Domestic Product announced by the Commerce Department Thursday was a bit higher than expected, evidence of a jump in economic activity.

Consumer spending was up more than 3-percent in the third quarter.

Another positive sign: The number of Americans looking for work continues to drop, slightly.

Still, there are more than 5-million Americans who have filed for unemployment benefits and the positive economic indicators can't mask lingering caution from consumers as the holiday shopping season begins.

Another sign that the economy is still struggling: As of this week the federal government has shut down more than 100 banks.

That's the highest closure number in more than 15 years.

 

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