This week we saw the release of three major economic reports—overall economic growth, unemployment, and personal income and consumer spending. The results of these reports point to the need for some major changes in the way we live.
When economists look at the economic growth rate, they are trying to determine if the overall growth is strong enough to support a flourishing economy, a stagnant economy or one that will be depressed. The report that came out this week showed a very small growth pace, which economists feel is too weak to lower the unemployment rate. Unemployment overall is still weak, which shows that there aren’t as many jobs being created. Both of these factors are eye-opening and definitely encourage people to pursue the freedom that comes with being an entrepreneur.
One of the bright spots from the reports this week is the big increase in consumer spending. Direct sellers know this all too well and have been able to capitalize by creating successful personal businesses that help consumers find specific products and services that match their needs.
Another key factor to consider is that consumer spending accounts for 70 percent of all economic activity!
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