The US economy is looking healthy by most metrics we can see coming into the middle of 2019. We can see that Gross Domestic Product is looking steady at between 2% and 3%, which for a mature Western democracy is pretty much where we would be wanting it to be. It is steady growth which is a healthy way for an economy to grow, not too much instability. We can also see that unemployment is at a better level than it’s been for many a year sitting at a low 3.7% and with this many Americans in work then we know that is good news for the economy as it stands to reason that if people are earning and have money in their pockets to spend then this is good news for everyone.
What Sectors Are Doing Well
We can clearly see that manufacturing is doing very well and in face manufacturing and demand are increasing not only for domestic consumption but also for exports of goods manufactured in the USA going out of the country. We are even seeing a rise in inward investment from foreign firms choosing American sites for their plants and factories, we are becoming more affordable than other places at the same time as traditionally cheaper labor forces, such as China, becoming much more expensive driving companies to the mix of cost and quality of production they can find here.
American Car Manufacturing Industry
The future of car manufacturing could be bright in the USA as the nationalist, populist policies of the Trump administration is looking to concentrate on manufacturing and the car industry in particular. This will bring growth and jobs to the country and hopefully be a good long-term trend that is not going away.
The demand is definitely there for new cars as there are so many inventive and new ways for consumers to buy or lease vehicles such as the move towards Personal Contract Purchase (PCP) and similar schemes.
Looking Forward
Things can change but it’s a good idea to keep on top of how companies earnings are looking and this can easily be done online which gives us a great indicator of how the economy may be moving in the near future.
There are so many dynamics to the economy and it’s hard to see exactly what will happen but the near future but there are sure to be many challenges and opportunities, often in the same area. Take climate change for example, this is likely to be very costly to the manufacture of goods, food prices and more but also there will be opportunities such as the manufacturing of environmentally friendly vehicles and the construction of new power plants moving away from fossil fuels.
