The U.S. Economy Is Humming. Does Anybody Care?
Fantastic economic news was for naught as the uncertainty surrounding the Greek debt situation overshadowed everything this week.
The U.S. economy turned in a great performance this week with outstanding results from the manufacturing sector, the jobs front, consumer income, and continued strong productivity growth.
However, all this fantastic news was for naught as the uncertainty surrounding the Greek debt situation overshadowed everything else in the world's markets.
Riots in Greece over required austerity programs and squawking from European countries funding the bailout called into question the viability of the package hammered out just last week. The markets seemed to be caught between those who believe Greece is a small and special case that isn't likely to cause great damage and others who now believe it is just a matter of time until every other suspect European economy faces financial Armageddon.
Robert Johnson, CFA does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.
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