News

It’s hard to believe the year is half gone. Now that many of the mid-year economic reports are in, it looks like it’s been a pretty good year so far.

The Federal Reserve says the US economy is expanding in all 12 regions of the country. Five of those regions — Minneapolis, New York, Chicago, Dallas and San Francisco — showed “moderate” growth in June and early July.

Auto sales reached an eight-year high in June and US businesses are restocking their inventories, indicating confidence that business and consumer spending will continue to increase.

In addition, the Labor Department says employers added almost 300,000 jobs in June, the fifth straight month of gains above 200,000, while the unemployment rate fell to a five-year low of 6.1 percent. Minnesota’s unemployment rate has dropped to 4.5 percent, its lowest level since 2007.

While no one can predict the future, all indications are that 2014 will be a positive year for business and we hope it will be for your business, as well.

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About Maggie Linvill Smith

Co-owner - President and CEO Maggie earned an M.B.A. degree in Finance, Accounting and Business Strategy from the University of Chicago Graduate.

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