Investing on business attire can be costly. Decent business suits can run up to a few hundred dollars and with today’s economy, not everyone can spare that much money just to appear a bit more formal and crisp.

Then again, there’s still value on dressing to impress. For starters, it sends out the message that you’re not that hit by recession. And people always want to deal with someone who’s recession-proof. Suits also connote importance and authority.

You can always be a recessionista. Finding good deals and bargains. It’s really more about the style of dress. You need not be in $1,000 suits to be able to power dress. Neatness, fit, and confidence can trump any Italian brand.

Then again bums wear suits.

Done with the rescues (with several companies announcing that they will be paying the government back), rebuilding and reengergizing infrastructure and jobs would be next.

The government plans to create jobs by boosting infrastructure. Road works, transport systems, broadband installations, and health research funding are key areas the White House has identified on which to invest.

These investments are expected to creat a domino effect on the private sector as well.

According to the president’s people, the stimulus plan is said to have created or saved around 1 million jobs up to August. The second quarter also saw the rise in the country’s GDP by 2.3 percentage points and again, the stimulus plan has been cited as key.

“We have absolutely seen a change in trajectory,” presidential Council of Economic Advisers Chairwoman Christine Romer said. “An economy that was in free fall with a tremendous amount of downward momentum has certainly seen something very different.”

Still, you can’t please everyone and naysayers are pointing out that even with so-called 1 million jobs created and saved, the country saw the loss of 3 million jobs. Unemployment remains to be critical in the forecast of the country’s recovery.

Source: CNN

This drop reflects how consumers are trying to lessen debt and how banks are reluctant to provide clients with a longer credit line according to analysts. Revolving credit (like credit card) dropped by $6.1 billion while non-revolving credit (like car loans) fell by $15.4 billion.

Many economists are optimistic that the recession has finally bottomed out and the economy’s on the way back to recovery and that the numbers will be padded as inventories are replenished and some sectors steadily gain ground.

Still, consumer spending and debt will have to wait until the unemployment problem starts to ease. The lack on steady income streams have made consumers wary of incurring more debt than they now have.

Source: CNN

Analysts have been saying that a recovery has been very likely given indicators such as the stock market’s rally and the rebound of certain markets. The only factor that prevented an optimistic claim was the still- widespread unemployment. However, after the latest jobs data proved to be better than expected, analysts are starting to jump into the optimists’ bandwagon.

Consumer spending has also risen in June for the second consecutive month while productivity jumped in the second quarter showing that workers are willing to produce more for less pay. Exports are also up by 2% to signify that manufacturing is also on the rise.

“It is not all that surprising, it acknowledges a lot of what we have been seeing, that conditions are stabilising and the recession may be ending,” said Mark Vitner, an economist at Wells Fargo.

Source: BBC