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Posted: Oct 29, 2010
The Commerce Department said Friday that the economy expanded at a 2 percent annual rate in the July-September quarter.
Consumers helped boost last quarter's economic growth with 2.6 percent growth in spending. That was better than the second quarter's 2.2 percent growth rate and marked the biggest quarterly increase since a 4.1 percent gain at the end of 2006 before the recession hit.
A stock-market rebound made people feel better about spending. Bargains, on everything from cars to home furnishings, also drew them out. Consumer spending accounts for roughly 70 percent of national economic activity, and thus plays a major role in determining the vigor of the economic rebound.
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I think this is rather common sense. - sm
[ In Reply To ..]I would expect things to go up until Christmas because many people have been saving all their money to buy for their families for Christmas. Our personal spending was bound to go up this time of year. After Christmas...be ready for another drop in spending.
I will do my shopping on - Christmas Eve as usual
[ In Reply To ..]The above post refers to the third quarter data ending in September, the
biggest quarterly increase since a 4.1 percent gain at the end of 2006.
Christmas has been a long time a'coming.
Obviously you don't realize that - sm
[ In Reply To ..]many people, particularly those who cannot afford all their gifts at one time, start buying for Christmas way before Christmas. I believe my mother started in July.
Wow! I wish I was on - her list
[ In Reply To ..]Quite the shopper to move the US economy. I think I like her.
Grow up and come back with something - of substance or shut up.
[ In Reply To ..].
Your point is well taken despite the naysayer, who is clearly - rooting for failure,
[ In Reply To ..]seems to get a bit touchy when confronted with hard data and is not all that interested in facing reality.
Oh please, this country is a dump thanks to Obama. - HE DELAYED any possible recovery.nm
[ In Reply To ..]nm
Naysayer remarks are programmed - in her text expander - nm
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