For Immediate Release
May 22, 2015
Weak Signals on Economic Growth
(Washington D.C.) – According to a new report, the U.S. Manufacturing Purchasing Managers’ Index (PMI) showed the weakest growth in the country’s manufacturing industry since May of 2014. This comes after reports that economic growth in the U.S. during the first three months of this year was likely negative – indicating a possible recession ahead. This week’s report from the Conference Board on U.S. Leading Economic Indicators (LEI) provides a modest contrast, showing just a 0.7 percent increase in the index, which further reinforces that there has been little-to-no improvement in the economic outlook for the country. Amidst these signs of weak – or even negative growth – working Americans show little faith that the economy has genuinely begun to improve.
Rachel Campos-Duffy, National Spokesperson for The LIBRE Initiative released the following statement:
“Latinos are frustrated! They want to work and they want an economy that doesn’t hold them back. This administration keeps claiming this is a healthy economy, but we don’t feel it. Latino household income has fallen 66 percent; Hispanic household income is at its lowest since 1999; and there are 3 million more Hispanics living in poverty. How can the president tell us we’re on the right path?
Hispanics are our nation’s most ambitious entrepreneurs, starting businesses at over twice the national average. New regulations under the Obama administration have raised taxes by nearly $73 billion each year. Workers experiencing sluggish wage growth have now become the norm rather than the exception. This is taking a heavy toll on the Latino community where the disparity has been reflected even among college graduates. Washington needs to control their spending and lift burdensome regulations so Latinos and all Americans can work and build their American Dream.”