The economic news today is positive and points to a strong finish to 2014. Predictions for the holiday selling season (beginning with Halloween) are for growth rates double what they were last year!
· “The U.S. economy grew at its fastest rate in 2 ½ years in the second quarter with all sectors contributing to the jump in output in a bullish signal for the remainder of the year.” Source: Reuters, 9/26/14
· “The University of Michigan said Friday that its index of consumer sentiment rose to 84.6 in September from 82.5 in August. That’s the second highest level in the past seven years.” Source: AP, 9/26/14
· “With domestic demand increasing at its fastest pace since 2010, the economic recovery appeared more durable after growth slumped in the first quarter because of an unusually cold winter.” Source: Reuters, 9/26/14
· “The Conference Board’s consumer confidence index increased to a seven year high last month.” Source: AP, 9/26/14
· “More households expect their incomes to rise in the coming year than at any other time in the past six years.” Source: AP, 9/26/14
· “So far economic data such as manufacturing, trade and housing suggest that much of the second quarter momentum spilled over into the third quarter.” Source: Reuters, 9/26/14
Continue to be aggressive in helping your clients to take advantage of our rebounding economy. The consumer continues to spend and incomes are rising!