July 1 Economic Outlook

Jul 1, 2016  | Ep4145

As the conscious uncoupling between Britain and the E-U plays out, the world economy has tried to move on and see other countries.

The Dow Jones regained much of last week’s losses and flirted with 18,000. And Britain’s main index, the FTSE 100 is back above pre-Brexit levels.

Domestic shoppers were feeling better about the immediate future. Last month, consumer confidence grew to its highest level since October.

The bravado fueled a springtime shopping spree pushing consumer spending up 0.4 percent in May. However, according to the Commerce Department, the economy grew at a paltry pace in the first quarter of the year.

Drivers heading to their July 4th holiday destinations will find savings at the pump. AAA reports gas prices are at their lowest levels for this time of year since 2005. 

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