By Kyle Cheng
According to the July “SEMA Industry Indicators Report,” the risk of recession has diminished.
The first half of 2019 is in the books, and the United States is now in the longest economic expansion in its history. The economy is intact, and the risk of recession has diminished. Further risks of additional tariffs appear low for now, but tension remains, and growth is slowing both at home and abroad.
Consumer spending is at a healthy level. Likewise, a tight labor market is keeping pressure on wages. Consumers are feeling optimistic, and that confidence is driving many to look for new opportunities. Good fundamentals should carry the economy the rest of the year.
Likewise, the manufacturing sector added 17,000 new jobs last month—a strong increase from the prior three months. Fewer trade uncertainties, a weaker dollar and improving business sentiment could collectively help manufacturers in the second half of the year.
To learn more, download the July “SEMA Industry Indicators Report,” now available for free at www.sema.org/research.