This Economic Expansion Looks Sturdier Than the Consensus
The consensus estimate that we’ll have a two-percent growth economy in the coming year is looking increasingly out-of-touch with reality.
Personal spending rose at a solid pace in November, with U.S. consumers seeing rising incomes, mild inflation, and steady employment—and demonstrating remarkable confidence by drawing down savings to maintain robust consumption levels.
Consumer spending, adjusted for inflation, increased 0.3 percent for a second month, the Bureau of Economic Analysis (BEA) said Thursday. The agency released both October and November figures after a lengthy delay caused by the federal government shutdown.
(iStock/Getty Images)
The report shows American consumers spending with confidence despite persistent complaints of elevated prices, supported by wage growth and payroll expansion that continues
Continue reading
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!