Business News and Information

Bloomberg.com featured a story of good cheer today, namely, the U.S. gross domestic product (GDP) has increased. Story writer Shobhana Chandra explained the GDP succinctly "the sum of all goods and services produced." The movement of the GDP is a fairly good indication of a nations economy.

Chandra quoted Mark Vitner, senior economist at Wachovia Corp. (NYSE:WB). Vitner said, "We think we're in recession, but I don't know that the GDP numbers are going to turn negative at all in 2008.''

Chandra reported the gain was more than forecast. Last quarter spending by households, "the biggest part of the economy" grew at the slowest pace since 2001. Could anything else have been expected in the face of fuel prices, the increasing cost of necessities, and depreciating home values?

More good news, companies are hiring again (tentatively). Chandra said companies have "added 10,000 workers in April, up from 3,000 in March."