U.S. Consumer Spending Jumps by the Most Since 2001 »

Posted By STONERS 2 months, 4 weeks ago in News
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Spending by U.S. consumers climbed in August by the most since 2001, indicating the biggest part of the economy is starting to rebound from its worst slump in almost three decades.

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    STONERS2 months, 4 weeks ago

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    “This is not just a cash-for-clunkers story, spending is back in other areas as well,” said Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York, who correctly forecast the gain in spending. “It looks to be a slow and steady recovery. The labor market is key for whether or not the consumer will continue to spend into the fourth quarter.”

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      orndorffter2 months, 4 weeks ago

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      I would say that it's starting to look good for us, and I think consumers will continue to spend into the fourth quarter.
      Goood article,STONERS.

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        beavith12 months, 4 weeks ago

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        let's not get ahead of ourselves.

        CIT Group is circling the drain. the FDIC insurance fund is broke. unemployment numbers went up again. bank loans are down.

        things are still mightily screwed up and the fundamentals haven't changed.

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          Wolfie20072 months, 4 weeks ago

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          This is only cash for clunkers no matter what anyone says. You can watch it drop next month, drop big time too.

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