The Federal Reserve increased their growth projection for 2011 to 3.4 to 3.9%. They expect higher than projected growth for the short term, but the following two years are not projected to be as good.
Consumer confidence reached a three year high at 70.4. A value above 90 usually reflects a strong and growing economy.
USA Today reports that tax bills paid by Americans in 2009 were the lowest since 1950. Since taxes were cut again last year, they will probably be at 60 year lows again in 2010.
We are seeing service industry materials price increases over the next few months in the 2% to 9% range.