With the publication of May’s consumer indices, one thing is certain about the short-term economic prospects for business – it is pretty uncertain!
On one hand, the University of Michigan’s monthly index suggests consumers are not feeling too optimistic about their economic wellbeing with May’s figure dipping to its lowest level (90.7) since November, down from 95.9 in April.
This tallies depressingly well with the latest Commerce Department figures which show a 0.7% annual contraction in the first quarter of 2015, impacted on by severe weather, a widening trade gap and creeping gas prices.
On the other hand, the Conference Board, which surveys around ten times more households than the University of Michigan, has posted a slight month-on-month increase in its consumer confidence index: from 94.3 to 95.4, citing falling unemployment. And even the University of Michigan’s index is bearing up well when looking at the average monthly figure since January: 94.6, the highest its been since 2004!
So is May just a minor blip in consumer mood or a worrying slip into a major depressive episode?
Either way it is an opportune time for inviting the experienced businesspeople that make up my Legal Solutions Group onboard to oversee your strategy and suggest any changes that might better prepare you for rough weather, or efficiency savings you could be making to keep you lean. At the same time, we can put our corporate law experience at your service, ensuring you’re fully compliant – the last thing you need in uncertain times is a service of process from a Federal department.
It is our firm belief at Legal Solutions Group that you can never be over-prepared for the future, so don’t wait until the storm hits before contacting a lawyer – start securing your own safe passage today.