Weldon: Tech stands out in 'struggling' US economy

ON THE US

Consumer borrowing rose unexpectedly for the first time in a year at an annualised rate of 2.4% (March 2010), suggesting people are becoming more comfortable about their personal prospects.

The Institute for Supply Management’s index of the services sector saw activity accelerate by more than expected in February, taking the reading to 53, the highest score since October 2007. But we are far from out of the woods. Although the US economic system is showing signs of progress, the cure has resulted in significant government debt and a substantial fiscal deficit, which will impact economic growth. As levels of unemployment remain unchanged at 9.7%, in light of the harsh winter that impeded economic activity, the US is still struggling. Also, while in the near term the consumer...