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American economic rebound is growing

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American economic rebound is growing
Detroit Lakes Minnesota 511 Washington Avenue 56501

The American economy continues to show signs of strengthening going into the New Year.

The economic signs are coming in different places: consumers spending again, companies rebuilding stock, stock values are rebounding, home prices are growing again and American exports increased for the sixth straight month.

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The biggest concern nationwide remains high unemployment. High levels of unemployment could slow the recovery.

However, the unemployment rate may be stabilizing as the November rate was 10 percent, down from a 26-year high of 10.2 percent.

In addition, U.S. companies' layoffs were only 11,000 in November, the few since the current recession began in December 2007.

More importantly, Commerce Department figures released Friday show that retail sales and consumer confidence increased more than forecast in November.

Retail sales climbed 1.3 percent in November, more than double the projected 0.6 estimate.

Another growth indicator is that China's factory output climbed 19.2 percent in November, compared to a year earlier.

All of the factors above are helping rebuild consumer confidence, which may be unleashing the pent-up demand of the U.S. consumer.

The rebound of the economic recovery will not likely be quick.

If recent trends continue in these positive directions, the U.S. economic rebound will continue to grow right out the current three-year long recession.

-- West Central Tribune

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