Production in U.S. Climbs, Signaling Investment Gain (Update2)
Industrial production unexpectedly rose in February as growing demand for computers and communications gear overcame a drop in autos, pointing to a pickup in U.S. business spending.
Why are "government economists" surprised every time the economy improves, even a little bit? For the same reason that "government economists" are surprised every time the economy gets worse. Not a single "government economist" has any knowledge or skill in understanding the economy, much less figuring out where it is going. Fortunately for the position known as "government economist", knowledge, skill, ability, honesty are not required. Like every other government job, the only real requirement, is the willingness to lie extensively, and take a fall to protect yourself or your supervisor if caught lying.
And so far, there is no penalty for a "government economist" being wrong.
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