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Thursday, March 04, 2010
US consumer spending picks up pace
Financial Times
US consumer spending picked up in January for the fourth month running, lifting hopes that consumers could start adding momentum to an economic recovery that so far has been fuelled by manufacturing.
“As long as income growth remains sluggish, in order to propel GDP [gross domestic product] consumers will have to continue to wind down the savings built up in 2009,” said Brian Sozzi, an analyst at Wall Street Strategies. “Whether this happens is an unknown variable given uncertain prospects on jobs and the overall direction of the US economy.”
Link to full article: http://www.ft.com/cms/s/0/71d58800-2534-11df-a189-00144feab49a.html
Posted by Brian Sozzi, Research Analyst
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