I started this blog in June 2007 asking these questions: Are we in a massive asset bubble that will blow up in our faces ??? - ANSWERED YES ! Is western and particularly British society on the verge of social collapse??? What are the best common sense long term investment strategies to keep you rich? When will consumption/debt bubble economics end and a real savings/production economy begin ???
Wednesday, 13 June 2007
US consumers go on shopping spree
Consumer spending makes up two-thirds of the US economy
US consumers have surprised analysts, as official figures revealed that retail sales grew 1.4% in May.
Observers said that the increase, the highest in 16 months, suggested that high petrol prices may not be biting as hard as had been feared.
The data, which also comes amid slumping house prices, buoyed market investors, with Wall Street shares offsetting some of Tuesday's losses.
Sales in April had fallen 0.1%, revised Commerce department data said.
more ...
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Check out the rest of this blog here.
US consumers have surprised analysts, as official figures revealed that retail sales grew 1.4% in May.
Observers said that the increase, the highest in 16 months, suggested that high petrol prices may not be biting as hard as had been feared.
The data, which also comes amid slumping house prices, buoyed market investors, with Wall Street shares offsetting some of Tuesday's losses.
Sales in April had fallen 0.1%, revised Commerce department data said.
more ...
------------------------
Check out the rest of this blog here.
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