The Trouble With Consumer Spending
Consumer spending has been hit particularly hard in this recession. Today’s fourth-quarter GDP revisions illustrate that things were even worse than first thought late last year. “Consumer spending dropped by a 4.3% pace, the steepest fall in 28 years. It also marks the first time in history we have seen two consecutive quarters where household spending has fallen by more than 3% for two consecutive quarters,” said Bernard Baumohl of the Economic ... Full Story »
Posted by Fabrice Florin
