A barrel at west texas intermediate dipped below 50. So how will this dramatic collapse in energy costs impact the economy and consumers . Steve liesman takes a look. Reporter plunging oil prices raised a few economic puzzles. First, since the u. S. Is now such a huge oil producer wouldnt it be a drag on the economy or a benefit . This is key to the first, what will consumers do with the wind fall . Save spend, or pay down debt . Disappointing retail sales in december suggest consumers parting only reluctantly with the extra petro dollars in their pocket. People are waiting to see if this is real and take a while before adjusting their spending pattern. Reporter to be sure the case is not closed. Consumer spending was strong in october and november leaving some economists to forecast that Fourth Quarter growth will sport the best Consumer Spending number since the Great Recession ended. The december data may yet be revised and just because consumers took a break doesnt mean that the oi
A barrel at west texas intermediate dipped below 50. So how will this dramatic collapse in energy costs impact the economy and consumers . Steve liesman takes a look. Reporter plunging oil prices raised a few economic puzzles. First, since the u. S. Is now such a huge oil producer wouldnt it be a drag on the economy or a benefit . This is key to the first, what will consumers do with the wind fall . Save spend, or pay down debt . Disappointing retail sales in december suggest consumers parting only reluctantly with the extra petro dollars in their pocket. People are waiting to see if this is real and take a while before adjusting their spending pattern. Reporter to be sure the case is not closed. Consumer spending was strong in october and november leaving some economists to forecast that Fourth Quarter growth will sport the best Consumer Spending number since the Great Recession ended. The december data may yet be revised and just because consumers took a break doesnt mean that the oi
A barrel at west texas intermediate dipped below 50. So how will this dramatic collapse in energy costs impact the economy and consumers . Steve liesman takes a look. Reporter plunging oil prices raised a few economic puzzles. First, since the u. S. Is now such a huge oil producer wouldnt it be a drag on the economy or a benefit . This is key to the first, what will consumers do with the wind fall . Save spend, or pay down debt . Disappointing retail sales in december suggest consumers parting only reluctantly with the extra petro dollars in their pocket. People are waiting to see if this is real and take a while before adjusting their spending pattern. Reporter to be sure the case is not closed. Consumer spending was strong in october and november leaving some economists to forecast that Fourth Quarter growth will sport the best Consumer Spending number since the Great Recession ended. The december data may yet be revised and just because consumers took a break doesnt mean that the oi
A barrel at west texas intermediate dipped below 50. So how will this dramatic collapse in energy costs impact the economy and consumers . Steve liesman takes a look. Reporter plunging oil prices raised a few economic puzzles. First, since the u. S. Is now such a huge oil producer wouldnt it be a drag on the economy or a benefit . This is key to the first, what will consumers do with the wind fall . Save spend, or pay down debt . Disappointing retail sales in december suggest consumers parting only reluctantly with the extra petro dollars in their pocket. People are waiting to see if this is real and take a while before adjusting their spending pattern. Reporter to be sure the case is not closed. Consumer spending was strong in october and november leaving some economists to forecast that Fourth Quarter growth will sport the best Consumer Spending number since the Great Recession ended. The december data may yet be revised and just because consumers took a break doesnt mean that the oi
Americans hit the stores in search of steals and deals on black thursday. And hands off our week, shares plummet after australias mitland say its just not in the nations interest. Announcer youre watching Worldwide Exchange, bringing you Business News from around the globe. A warm welcome to the last Worldwide Exchange of the month. Standard poors cut its longterm Credit Rating for the neglect netherlands from aa plus from aaa. Speaking earlier, the dutch finance minister gave his reaction. I take these ratings seriously because the markets take them seriously. As i said, growth expectations for the netherlands are the same that we have ourselves on which we base our budget and it just confirms the need for us to push forward some of these reforms so we can get bigger and better growth figures. Of course, you know, the other two rating agencies have only recently confirmed the aaa status for the netherlands and now s p has downgraded us to aa plus. Im disappointed by that fact. S p, th