Today I posted my two-hundred-and-ninety-second YouTube Video: Trend of the Week U.S. Economy Last Man Standing
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Today’s Trend of the Week is U.S. Economy Last Man Standing. The U.S. economy is moving along at a surprisingly positive rate given the Fed’s repeated rate increases. Earlier in the year I expected a summer recession, but that no longer appears to be the case. We may see a recession later in the year, but as of now, the U.S. economy hasn’t dropped into a negative quarter–and the U.S. economy looks like the strongest in the world. Which my not be saying much. China is growing faster by the official numbers, but it needs to maintain at least a 5% growth rate to keep up with population growth. At the moment, with 4% growth, China’s unemployment rate for 16-24 year-olds is over 20%. This has led to country-wide dips in consumerism and has hammered the overall economy. We’re now seeing a slowdown in the EuroZone. The European Central Bank announced that they’re still seeing 6% inflation and raised interest rates by another 25 basis points. This policy is likely continue as the central bank tries to reach a 2% inflation rate. Growth in the EuroZone has been down for the last five months, and hit a new low in June. The Purchasing Managers Index (PMI) fell to 50.3. 50 is considered the break points between contraction and expansion. There’s a good possibility that the second quarter could be negative for the Eurozone, bringing the bloc closer to a recession. With China and the eurozone flailing economically, the U.S. economy is the last man standing.
Here’s the link: