Why should you be grateful this season? The economy might just be one reason
FREE Catholic Classes
After years of economic slump, the economy jumped on the fast track, and is growing by its fastest rate in over a decade.
We ask you, humbly: don't scroll away.
Hi readers, it seems you use Catholic Online a lot; that's great! It's a little awkward to ask, but we need your help. If you have already donated, we sincerely thank you. We're not salespeople, but we depend on donations averaging $14.76 and fewer than 1% of readers give. If you donate just $5.00, the price of your coffee, Catholic Online School could keep thriving. Thank you.Help Now >
Highlights
Catholic Online (https://www.catholic.org)
12/24/2014 (9 years ago)
Published in Business & Economics
LOS ANGELES, CA (Catholic Online) - While low wages and stagnant jobs have made many Americans pessimistic about the economic recovery, these attitudes are starting to change as economic growth picks up steam.
Get a Catholic email address for yourself, or give one as a gift. Safe, secure, and encrypted.
Investors, consumers and businesses are spending again, and the U.S. economic output rose about 5% during June through September, up from previous estimates of just 3.9% growth.
This followed growth in the second quarter of about 4.6%.
These growth figures means that 2014 has been the strongest year for growth since 2003.
The Dow Jones industrial average closed above 18,000 for the first time, while other major stock markets closed at record highs. The Dow is up 8.7% and the S.&P. 500 is up 12.7%.
"The data today is very consistent with a U.S. consumer that is doing quite well," said the chief United States economist at Barclays, Michael Gapen. "Consumers are receiving a boost in the form of lower gas prices, but they are also feeling more confident about their own futures because of the stronger labor market."
The economic growth rate is expected to slow slightly in the fourth quarter, but that is likely nothing more than a winter slump, not an end to growth.
The U.S. Commerce Department seems to share these views that the U.S. economy is growing and that the individual consumer has more spending power.
In a report published on December 24, personal spending increased by 0.6% in November, while in October that number had increased by 0.3%, this follows a 0.9% increase in personal income from September through November.
Unemployment is also down, dipping below 6% in some cases, and the major drop in gas prices has proved to be a massive boon to consumers, especially for the holiday shopping season.
---
'Help Give every Student and Teacher FREE resources for a world-class Moral Catholic Education'
Copyright 2021 - Distributed by Catholic Online
We ask you, humbly: don't scroll away.
Hi readers, it seems you use Catholic Online a lot; that's great! It's a little awkward to ask, but we need your help. If you have already donated, we sincerely thank you. We're not salespeople, but we depend on donations averaging $14.76 and fewer than 1% of readers give. If you donate just $5.00, the price of your coffee, Catholic Online School could keep thriving. Thank you.Help Now >
Join the Movement
When you sign up below, you don't just join an email list - you're joining an entire movement for Free world class Catholic education.
-
Mysteries of the Rosary
-
St. Faustina Kowalska
-
Litany of the Blessed Virgin Mary
-
Saint of the Day for Wednesday, Oct 4th, 2023
-
Popular Saints
-
St. Francis of Assisi
-
Bible
-
Female / Women Saints
-
7 Morning Prayers you need to get your day started with God
-
Litany of the Blessed Virgin Mary
Understanding Pentecost: A Celebration of the Holy Spirit in the Catholic Tradition
-
Did you know the Catholic Church has a birthday?
-
Catholic Bishops Call for Civil Dialogue Amid Church Polarization
-
Pope Francis Emphasizes Charity as the Pinnacle of Christian Love
-
Discovering the Heart of Love: Pope Francis Shares Wisdom on Charity
Daily Catholic
- Daily Readings for Friday, May 17, 2024
- St. Paschal Baylon: Saint of the Day for Friday, May 17, 2024
- Prayer to St. Gabriel, for Others: Prayer of the Day for Friday, May 10, 2024
- Daily Readings for Thursday, May 16, 2024
- St. Simon Stock: Saint of the Day for Thursday, May 16, 2024
- Prayer for Travelers: Prayer of the Day for Thursday, May 09, 2024
Copyright 2024 Catholic Online. All materials contained on this site, whether written, audible or visual are the exclusive property of Catholic Online and are protected under U.S. and International copyright laws, © Copyright 2024 Catholic Online. Any unauthorized use, without prior written consent of Catholic Online is strictly forbidden and prohibited.
Catholic Online is a Project of Your Catholic Voice Foundation, a Not-for-Profit Corporation. Your Catholic Voice Foundation has been granted a recognition of tax exemption under Section 501(c)(3) of the Internal Revenue Code. Federal Tax Identification Number: 81-0596847. Your gift is tax-deductible as allowed by law.