Confidence Is High

“Americans are smart enough to know a better economy when they see one,” The Wall Street Journal editorial board writes. The National Federation of Independent Business reported yesterday that small business optimism is near all-time highs, and the Atlanta Federal Reserve Bank’s wage growth tracker climbed to 3.3 percent in July.

“Apparently Americans are believing their own eyes”—not negative political spin.

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Julie Grant reports for CBS Pittsburgh that Advisor to the President Ivanka Trump traveled to the Keystone State yesterday, meeting with STEM students and local robotics companies as she leads the White House push on workforce development. “Cities like Pittsburgh are experiencing a tremendous renaissance,” Ms. Trump said.

“The evidence is clear: America is back,” Vice President Mike Pence writes in the Des Moines Register. “After years of slow growth and stagnant wages under the last administration, under this president, the American economy is on track to grow at its fastest pace in nearly 15 years.”

In Reuters, Lucia Mutikani reports that “U.S. retail sales rose more than expected in July as households boosted purchases of motor vehicles and clothing,” according to the Department of Commerce. “July’s increase in core retail sales suggested the economy started the third quarter on a solid footing after logging its best performance in nearly four years in the second quarter.”

This June, more Americans were satisfied with the direction the country is headed than at any point since 2006, a Gallup survey reveals. This year’s high ratings “possibly reflect positive economic news, such as a lower unemployment rate,” Lydia Saad reports.

“Productivity of American businesses surged to a 2.9% annual pace in the second quarter, reflecting the biggest gain in more than three years,” Jeffry Bartash writes inMarketWatch. “Higher investment is what generates increased productivity, the key to a higher standard of living.”