Knowledge that Helps Small, Minority, and Women Businesses Succeed
The stock market continues to set new records, but it would be foolish to judge the state of the economy by what is happening on Wall Street. Key indicators reveal the economy is very sluggish and suggest the stock market's performance is out of sync with fundamentals.
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Last week, the Dow Jones reached a new record of 14,539. Other favorable economic indicators included initial claims for unemployment compensation, increase in retail and food sales and consumer confidence. The economic advances appear to be are real and sustainable.
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Uhuru Kenyatta (son of the country’s first President Jomo Kenyatta), was declared President this week by the Independent Election and Boundaries Commission (IEBC). The intense conditions surrounding the elections have the country’s security forces are on high alert.
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Uhuru Kenyatta continues to maintain the commanding lead in the race for Kenya's President. His lead is 53% to Odinga’s 42% with close to one-half the votes counted. Thus far, the main international election observers have issued positive statements on the electoral process.
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Last week, February 11 - 17, consumer anxiety subsided and economic indicators revealed they have become more confident about the future. This should lead to greater spending and less saving. However, manufacturing production continues to be a drag on economic recovery.
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