Economic outlooks uncertain given surge in consumer spending finance-commerce.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finance-commerce.com Daily Mail and Mail on Sunday newspapers.
WASHINGTON (AP) — A flow of recent data from the U.S. government has made one thing strikingly clear: A surge in consumer spending is fueling strong growth, demonstrating a resilience
A flow of recent data from the U.S. government has made one thing strikingly clear: A surge in consumer spending is fueling strong growth, demonstrating a resilience that has confounded economists, Federal Reserve officials and even the sour sentiments that Americans themselves have expressed in opinion polls. Spending by consumers rose by a brisk 0.4% in September the government said Friday — even after adjusting for inflation and even as Americans face ever-higher borrowing costs. Economists caution that such vigorous spending isn't likely to continue in the coming months.