U.S. Consumer Spending Pauses, But Rising Confidence Offers Hope

"The weakness in spending will quickly subside this fall as consumer confidence is supported by record highs in the stock market, rising housing prices and improving labor market conditions."

U.S. consumer spending fell in July for the first time in six months, but confidence among households hit a seven-year high in August, suggesting the retrenchment would be temporary.

Another report on Friday showed a sharp acceleration in factory activity in the Midwest this month, a further sign the economy remains on solid ground.

"The weakness in spending will quickly subside this fall as consumer confidence is supported by record highs in the stock market, rising housing prices and improving labor market conditions," said Michael Woolfolk, global markets strategist at BNY Mellon in New York.

Comments

[Sevo]

Hmmmm:
“Pessimism reigns about economic ‘recovery'”
[…]
“Five years into the economic “recovery” (the survey of 1,153 Americans was conducted between July 24 and Aug. 3), the vast majority don’t believe the economy has gotten any better, despite reassurances to the contrary. They believe their children are going to have it even harder – and think there’s nothing the federal government can do about it.”
http://www.sfgate.com/business…..hc-bustech

Warning: Lefty (supposed) business hack.

[Las Vegas Real Estate]

This is true I wish it wasnt but we are headed towards another recession due to people who can afford things stopped buying and then their is the rest of us in the middle who still cant afford to live.

[chloechungook]

my co-worker’s sister makes $85 /hr on the internet . She has been out of a job for nine months but last month her paycheck was $13494 just working on the internet for a few hours. look at here now……….
???????? http://www.netjob70.com