July Retail Sales Rock, Productivity Soars Above Expectations, Manufacturing Businesses Booming
Outside of auto and gas sales, retail sales grew an even stronger 0.6 percent.
Productivity, which has had very small gains or even retreated in recent years, rose 2.9 percent in the most recent quarter compared with the prior quarter. That topped expectations for gains of 2.5 percent and was far above the paltry 0.4 percent increase in the first quarter. Productivity measures the growth of labor efficiency in producing goods and services. Rising productivity can hold back inflationary pressures even when the labor market is tight. It can also lead to higher wages in the longer run.
Unit labor costs, a measure that reflects the labor costs of producing each unit of output, was expected to decline 0.2 percent, after declining 0.3 percent in the prior quarter. Instead, it declined 0.9 percent. That too is an indicator that inflation is likely to remain tame.
The Federal Reserves New York State manufacturing survey also highlighted economic strength and showed no signs of stress from tariffs or anecdotal reports of parts shortages. The survey came in at 25.6, moving higher when economists had expected a decline to 20 from the prior reading of 22.6. The survey asks 200 manufacturing executives for their views on business conditions.
The picture comprised by the data released Wednesday morning was one of a strong economy when viewed from supply and demand sides, with rising productivity dampening inflation fears.
Source: https://freenorthcarolina.blogspot.com/2018/08/july-retail-sales-rock-productivity.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).