http://finance.yahoo.com/news/us-manufacturing-grows-april-slower-141408950.html
The manufacturing aspect of our industries has been recently facing one of the slowest growths. There have been reports of manufacturing activity decreasing from 51.3 in March to 50.7 in April. This could've been a result of the hiring rates being at an all time low as well and higher social security taxes. There is visibly less momentum of factory sales. Yet the consumers still believe that positive things will come in the near future such like increased hiring rates with higher pay and even lower gas prices. The economist on the other hand believe that the growth will grow slow this quarter.
High Gas Prices will make a sustained recovery impossible. As the working American public have few alternate transportation options they are stuck with paying an unaffordable chunk of their shrinking weekly pay for Gasoline.
ReplyDeleteI like to think that its generally hard for everything to go smooth in an economy. Since manufacturing is down, that is being compensated by spending being up and the US actually has had one of the best starts to the year since the crisis in 2008.
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