“U.S. Consumers Show Strength”
August 3rd, 2005 | by mbhunter |The title of the post is in reference to the June, 2005, 0.8% increase in consumer spending stated in a government report. The Reuters article cites a cause of the increase as consumers taking advantage of auto deals.
It also states that incomes rose only 0.5% during the same period. Meaning that we spent our increase in incomes, plus 60% of the increase. That isn’t the way to get rich.
But hey — we consumers are showing “strength!” It’s at least nice to be flattered as we go further into debt.
