It just does not get any clearer than this

For those who don't visit hughhewitt.com often, Mary Katherine Ham co-posts quite frequently. Today, she posted on a Dow Jones Newswire article that shows good economic news after good economic news. I don't usually do this, but to get the full flavor of all the good economic news here is a copy of the story with bold emphasis added by Ms. Ham to drive the point home:

WASHINGTON (Dow Jones)--The U.S. economy opened the year with more vitality than first thought, driven by stronger inventory building and overseas sales.

Gross domestic product increased at a 5.3% annual rate January through March, the Commerce Department said Thursday in its first revision to first-quarter 2006 GDP. The government initially estimated growth at 4.8%.

Price inflation estimates were left largely untouched.

The report showed corporate profits after taxes climbed 8.8% to $1.155 trillion January through March from the last three months of 2005. Profits increased 13.8% in the fourth quarter. Year over year, profits climbed 24.8% since the first quarter of 2005.

Raised projections on inventory building and exports were behind the upward revision to GDP, which is a measure of all goods and services produced in the economy.

The 5.3% seasonally adjusted gain in GDP was much bigger than the fourth quarter's 1.7% push forward, and marked the strongest quarterly showing since third-quarter 2003, when GDP raced ahead at a pace of 7.2%.

Still, Wall Street expected faster growth of first-quarter GDP; the median estimate of 23 economists surveyed by Dow Jones Newswires and CNBC was a 5.8% increase.

The revisions released Thursday showed business inventory building was stronger than first assumed. Stockpiles rose by $32.3 billion; originally, Commerce estimated a $21.9 billion increase. Companies had elevated stocks $37.9 billion in the fourth quarter.

The accumulation of goods subtracted only 0.14 percentage points from first-quarter GDP. Originally, Commerce said inventories cut 0.52 percentage points off GDP.

Businesses increased spending a little less than previously thought. Outlays rose 13.1% January through March, lower than the originally estimated 14.3% advance. Business spending rose 4.5% in the fourth quarter. First-quarter investment in structures climbed 11.3% and equipment and software increased 13.8%.

First-quarter spending by consumers rose 5.2%, down from a previously reported 5.5% but way above the fourth quarter's 0.9% advance.

Consumer spending accounts for the lion's share of economic activity - about two-thirds. It contributed 3.63 percentage points to GDP in the first quarter; the original estimate was a contribution of 3.81 percentage points.

Purchases of durable goods surged 20.5% in January through March, a bit down from a previously reported 20.6% but far stronger than October-through-December's 16.6% tumble.

Durable goods are expensive items designed to last at least three years, such as cars.

First-quarter non-durables spending rose by 5.7%. Services spending went 2.2% higher.

Trade exerted less of a drag on GDP, according to the revised data. U.S. exports rose by 14.7%. Imports increased 12.8%. Originally, exports were seen up 12.1% and imports 13.0% higher. Fourth-quarter exports increased by 5.1% and imports surged 12.1%. Trade lopped 0.55 percentage points off GDP in the first quarter; initially, Commerce said trade reduced GDP by 0.84 percentage points.

Residential fixed investment, which includes spending on housing, climbed by 3.1% in the first quarter, higher than the originally estimated 2.6% rate of growth. Fourth-quarter spending went up 2.8%.

Real final sales of domestic product, which is GDP less the change in private inventories, climbed 5.5%. The original estimate was a 5.4% increase. Fourth-quarter sales fell 0.2%.

Federal government spending increased by 10.5%, revised down from an initially estimated 10.8% increase. Fourth-quarter spending fell 2.6%. State and local government outlays increased 0.8%.

The government's price index for personal consumption rose 2.0%, unchanged from the previous estimate for the quarter and below the fourth quarter's 2.9% climb. The PCE price gauge excluding food and energy increased 2.0%, the same as the previous estimate for the quarter and below the fourth quarter's 2.4% climb.

The price index for gross domestic purchases, which measures prices paid by U.S. residents, rose 2.8%, up from the previous estimate for the quarter of 2.7% but below the fourth quarter's 3.7% climb. The chain-weighted GDP price index rose 3.3%, the same as the previous estimate for the quarter but below the fourth quarter's 3.5% climb.

Ms. Ham quips at the end that the author 'had to whip out a thesaurus to figure out more ways to say "increased." '

Ok, so all of this amazing news and what is the point besides where is the MSM on all of this news? The point to her post is the headline chosen for this piece:

US 1Q GDP Revised At Rate Below Expectations

You might need to get out your manifying glass to find the following which is the inspiration behind the underwhelming title:

Still, Wall Street expected faster growth of first-quarter GDP; the median estimate of 23 economists surveyed by Dow Jones Newswires and CNBC was a 5.8% increase.

We have seen the MSM dodging and ducking great economic news. We have seen the MSM continue to scrounge for bad news whenever they have to report good news. We have seen Greenspan and Buffet taking every chance to try to sink the housing market. And of course we have seen the MSM try every trick to spin good economic news into bad. This one, however, really takes the cake.