Consumer spending trend is a shaky foundation for economic recovery
Monday, May 17, 2010 - 09:03
in Mathematics & Economics
Analysts say the upswing in buying is largely by affluent people snapping up luxury items and delinquent homeowners who have extra money since they aren't making their mortgage payments. Increased consumer spending has fueled hopes that the current economic recovery will keep getting stronger, but behind the encouraging numbers is a little-noticed reality: Much of the new spending has come not from America's...