Dec. 3, 2010
In the final months of the year, our economy is showing a strong increase in consumer and producer activity.Construction spending is up, auto sales are on the rise, and the factories are busier. Last Wednesday, the stock market jumped after a report that the private sector hired the most workers in 3 years. The Dow Jones went up more than 2 percent.
Automakers have created much of the growth in manufacturing. GM, Chrysler, and Ford all had double-digit sales increases for the month of November. Other positive economic news shows that Americans are increasingly willing to spend money. Measures of personal incomes, consumer confidence, and consumer spending are all up.
According to reports, over $1 billion was spent online the Monday after Thanksgiving, which is 16% higher than 2009. This year makes it the first time “Cyber Monday” has ever hit that milestone.