Sign of bad economy: December consumer spending data is worse than expected.

When consumers don’t spend in December, it just goes on to say people were more worried about their financial situation than celebrating Christmas or new year

Do you honestly think there is an important occasion than that in a year that willwant them to spend money?

How does an economy that is 70% consumerism expand 5 + % (GDP) when CONSUMERS are saving more and spending less?

Perhaps it’s just me, but this does not add up. More BS GDP numbers from the government to make people “feel better” about what is happening to us. And oh yes, it’s still happening - this is a long ways away from getting better…….

Personal incomes, consumer spending up in December

Personal incomes rose more than expected in December and consumer spending increased for the third straight month, helping the economy slowly recover from the worst recession in decades.

The Commerce Department said Monday that incomes rose by 0.4 percent, the sixth increase in a row. That’s slightly better than analysts’ expectations of 0.3 percent growth.

Income growth was spurred by a large, one-time social security payment. Wages and salaries rose by only 0.1 percent, or $9.1 billion, after increasing 0.4 percent, or $27 billion, in November.

- NK

Related Posts:

• Trying to bail out housing is a nightmare.
• The international analyst are all saying that the only growth this year will come from emerging markets.
• The three basic economic systems: goverment, producer, consumer
• No fundamental reason for a recovery yet.
• Here’s a few words from Wikipedia about recessions:

Leave a comment