Economic Credit Crunch - Good News!
Recession may be the economic word of the year, but the actual numbers aren’t showing recession. The 2nd Quarter Gross Domestic Product numbers came out and the economy continued to grow, this time at a stronger pace than last quarter - 1.9 percent.
Although negative descriptions like “credit crunch” or “housing crisis” line the new stories, here is some positive feedback on the economy. Click here to read the story on MarketWatch, GPD accelerates to 1.9% pace in second quarter.
“The economy is in a perilous state, said Joel Prakken, chief economist for Macroeconomic Advisers, ahead of the report. The impact of the stimulus checks is positive but fading, he said, while businesses are cautious, and credit remains tight.”
Recession or not, it’s a great time to pull a free credit report to see what you can do to improve your ability to improve your credit in a “tight-credit” environment. Free Credit Reports - Trial Offer.
Tags: credit crunch, economy, recession