Signs Of Economic Growth Picking Up
Investment spending plans are on the upstick for a second month in a row, which indicates that the economy is on a firm growth path. The first quarter was disappointing in terms of registering a recovery from the slowdown.
According to a recent news article:
“A gauge of US business investment spending plans rose solidly for a second straight month in April and consumer confidence perked up this month, signs economic growth was picking up after sputtering in the first quarter.”
Increase In Wages Reported In The First Quarter
The first quarter saw an increase in average wages, which indicates that the economy is on a growth path. This also means that people will have better purchasing power and will spend on consumer goods, further buoying the economy.
Lucia Mutikani said in a recent news article:
“The economic outlook was brightened further by another report on Thursday showing a solid increase in wages in the first quarter, which should keep the Federal Reserve on track to raise interest rates this year.
“This morning’s reports all point to an economy that is doing a lot better than the near-stagnation in first-quarter GDP suggests,” said Paul Ashworth, chief U.S. economist at Capital Economics in Toronto.”
The top oil and gas companies in Houston have experienced the brunt of the low crude oil prices, which has resulted in a slashing of their capital investments.
In spite of the low crude oil prices that prompted the spiralling down of the economy, it looks like the economy is picking up again. There are many indicators that signal the economy is back on track and will see a steady growth over the next few months.