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The Wall Street Journal: Consumer Spending is a Bright Spot in Disappointing Second Quarter
Growing franchise brand Saladworks has seen sales increase by 10-percent over the last year.
In the second quarter of 2016, the U.S. GDP grew 1.2% according to the Commerce Department. This was a disappointing level of growth - the weakest start to a year since 2011.
“Consumer spending growth was the sole element of good news,” Gregory Daco, an economist at Oxford Economics, told the Wall Street Journal in a recent article on the GDP report. “Weakness in business investment is an important and lingering growth constraint.”
That consumer spending has led to higher sales at Saladworks. The growing franchise brand out of Pennsylvania has seen sales increase by 10% over the last year. Still, the presidential election in November is causing some pause across the entire country when it comes to larger level investments.
“The election cycle puts everyone on hold,” Patrick Sugrue, CEO of Saladworks, told the Wall Street Journal. “They’re excited to open new stores, but they want to get a better peek under the tent at what’s going on.”
The impact of the Brexit decision in the UK will remain to be seen until the GDP report on quarter three.
To read the original article, click here.
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About the Author
Brian Jaeger
FollowBrian Jaeger is a Vice President of Media Relations at No Limit Agency. Brian joined No Limit Agency after seven years working for local television news stations in Florida, four years at WCJB in Gainesville and three years at Bay News 9, the 24-hour local news station in the Tampa Bay area. Brian is a graduate of the University of Florida, where he studied journalism and telecommunications. He brings a journalist’s viewpoint to the public relations field, and when he’s not busy telling the stories of No Limit Agency's brands, you can find him writing, on a karaoke stage, or cheering on the Gators.
