US consumers spending jumps by the most since 2001

Started by ericho75

almost 17 years ago

Posts: 1743

Member since: Feb 2009

Discussion about

http://www.bloomberg.com/apps/news?pid=20601068&sid=aSbaO.gu.aps " Oct. 1 (Bloomberg) -- Spending by U.S. consumers climbed in August by the most since 2001, indicating the biggest part of the economy is starting to rebound from its worst slump in almost three decades. The 1.3 percent increase in purchases was larger than forecast and followed a 0.3 percent gain in the prior month that was bigger than previously estimated, Commerce Department figures showed today in Washington. Incomes climbed 0.2 percent for a second month and inflation decelerated. "

Response by ericho75

almost 17 years ago

Posts: 1743

Member since: Feb 2009

Don't fight the tape.
Small businesses doing well.

http://finance.yahoo.com/q/bc?s=SHIAX&t=6m&l=on&z=m&q=l&c=

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Response by NYCROBOT

almost 17 years ago

Posts: 198

Member since: Apr 2009

It's easy to have a high % gain when your baseline is so damn low. Means nothing significant.

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Response by nyc10022

almost 17 years ago

Posts: 9868

Member since: Aug 2008

Actually, heard the bloomberg report this am. things were optimistic on this stat, then they broke it down and the market retreated... turns out the entire increase was cash for clunkers...

which is over now.

good while it lasted though.

What else you got?

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Response by marco_m

almost 17 years ago

Posts: 2481

Member since: Dec 2008

all the data that came on friday was terrible.

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Response by nyc10022

almost 17 years ago

Posts: 9868

Member since: Aug 2008

Wow, ericho, yet another prediction you botched.
'
What did we lose, 400 points or so?

US consumers spending jumps by the most since 2001

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