US Economic Update
Truck sales still in an uptrend, yet testing the trend line from the recession low.
Manufacturing expanding after a false breakdown.
Services doing well.
Expenditures and Disposable Income growing.
Hours worked keeps on rising. The US economy may not be growing at rate that is acceptable to the media and those obsessed with growth numbers. But maybe the law of large numbers is in play here. The larger the US economy gets the more net GDP is created by a smaller growth figure. If you have 2% growth with a $17 trillion economy you generate $340 billion in GDP which would require a 34% growth rate for a $1 trillion economy to add $340 billion. Maybe we are obsessed with growth rates?