Two reports released Friday (7/29) take a closer glimpse into our growing economy, and the problems we still face. On the bright side, personal consumption expenditures grew 4.2% in the second quarter thanks to higher wage compensation and cheaper fuel prices. Americans are coming out to restaurants and stores spending more, up 3.1% in the first six months of 2016 as opposed to the same period last year. On the other hand, there has been a decline in investment and productivity growth. A strong dollar is battering American exporters while labor productivity has fallen 0.6% in the first quarter. Read more about the reports in The New York Times article by Neil Irwin, titled Here’s What’s Going Right, and Wrong, in the U.S. Economy.
The author, Bob Ottaway, is President and Founder of Ottaway Digital. Established in 1999, it has been a pioneer in SEO, digital advertising & social media since 2006.