The delightful picture painted by the data released this week was one of a strong and booming economy.
With the recent stress libs caused over tariffs and port shortages, the data clearly shows no problems in the economy.
When looking at the views on business conditions, surveys flew in showing signs of a 25.6% increase greater than economics has expected.
Additional data released by the Commerce Department also shows that retail sales are booming.
Retail sales include the total receipts at stores that sell merchandise and related services to consumers.
The numbers rose 0.5 percent in July, which is 0.4 percent grater than expected.
In the past recent years, productivity has had very little gains or positivity.
However, the numbers have rose 2.9%.
Productivity measures the growth of labor efficiency in producing goods and services necessary.
If the proper measures are not taken, rising productivity can hold back inflationary pressures even when the labor market is tight, leading to higher wages in long run.
This clearly reveals the hard work President Trump has been putting in as commander-in-chief when it comes to making our economy great again.
Reported by breitbart:
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 increase in #productivity last quarter is a promising sign for the economy—especially when seen alongside record levels of openings, hires, and quits, and low levels of unemployment. https://t.co/Y1QNPfHPIa
— Julia Pollak (@juliaonjobs) August 15, 2018