Elettrotec, one of the major manufacturer of fluid control devices, consolidates its goal to expand outside its boarders, with an overseas branch in Manhattan, New York.

The United States, stands for a land favorable to the development of innovative ideas; in fact, represents one of the main economic markets.

The first estimated GDP of the last quarter of 2018 confirms the American economy is on a direct path to expansion for the ninth year in a row. According to data provided by the Bureau of Economic Analysis, in the last three months of the year the growth was registered at +2.3%.  Disassembled, the most dynamic component was investments (+7.3%) while more limited was the increment in private consumption (1.1%). Data regarding international commerce was also positive, with the American trade balance registering a deficit reduction equal to – 15.8%, witnessing a $49 million monthly base, thanks to an export growth of +2% and a simultaneous decrease in imports of -1.8%.

In other terms looking at the market niches, the major contribution of growth in the last three months, was brought on by private investments (+1.19%) and services (+0.97%), while durable consumer goods registered a slight drop equal to -0.24%, largely due to a down turn in the automotive sector of -0.42%.

The occupational front confirms the soundness of the work market. Last April, employees in the non- agricultural sectors had an increase of 164,000 units, less than the expected 190,000 units. The unemployment rate decreased 20 basic points and is now at 3.9%, the lowest level since December 2000. In reference to wages in the private sector, the average hourly pay has witnessed an increase of 2.6% on an annual basis in respects to April.

In the backdrop remain structural challenges represented in the productivity sector, only +0.7% in the first trimester of 2018 and +0.3% in the last trimester of 2017.  Another structural issue regards the participation rate in the work market which is at the base of the decrease in the unemployment rate registered at approximately 62.8% in April.

The positive economic developments have been registered by the Federal Open Market Committee (FOMC) which has left the interest rates within the range of 1.50-1.75% unvaried, while leaving an opening for possible rate increases.  The attention is always focused on inflation rates, which in March moved closer to the 2% objective on a yearly basis.


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