Wednesday, April 29, 2015 – 08:15 a.m.
It would appear the economy isn’t so hot after all.
The initial read on Gross Domestic Product (GDP) was, as expected, very tepid.
Let’s try a paltry 0.2%.
Add this newest reading to weak job statistics such as average hourly wage growth, first-time claims, and not-to-mention that many of the jobs being created are low-paying, and it’s ugly.
It’s not as bad as years past. But nevertheless it’s ugly!
Growth in corporate earnings is slowing amidst the weak economy.
Contrary to the cheerleading by some, the economy, Inland Empire included, is weak.
There’s a reason why everyday folks don’t believe the economy is doing much better. Because it’s not.
Wages are going to have to climb significantly for a powerful economic liftoff to commence.
We’ll talk about crude oil inventories and gas prices later.