31
Jan
11

‘us consumer spending best in three years’

BBC: Consumer spending in the US grew at its fastest pace in three years during 2010, official figures have shown.

Spending grew by 3.5% from 2009 the Commerce Department said, the best showing since a 5.2% rise in 2007 – before the country went into recession.

The 2010 levels were helped by a strong December, where spending grew by 0.7%, the sixth consecutive month of growth.

Consumer spending makes up more than two-thirds of activity in the US, the world’s largest economy.

….Economists expect that spending and savings will be boosted further in 2011, if the job market continues to slowly improve and with a cut in payroll tax.

…Last week, figures showed that US economic growth accelerated in the last three months of 2010 to an annualised rate of 3.2%, up from a rate of 2.6% in the previous quarter.

More here


5 Responses to “‘us consumer spending best in three years’”


  1. 1 majii
    January 31, 2011 at 1:22 pm

    Love the pic of the crying GOP baby! It so reminds me of Boehner’s fake crocodile tears. The republicans haven’t introduced ONE bill to help with economic recovery in the 112th Congress, but our president is out quite frequently working on creating jobs. The republicans have no interest in doing anything except pandering to their tea party-inspired base by trying to repeal everything PBO has done over the last 2 years. I don’t think it will go well for them in 2012 if they neglect job creation and economic recovery efforts–the top concerns of the majority of Americans.

    • 2 Theo67
      January 31, 2011 at 3:56 pm

      The Republicans didn’t do anything in 2009 or 2010 to help with the economic recovery, and the only time they woke up and fought for anything it was for the top 2% to get their bonus tax breaks, at the expense of the deficit. They didn’t lift a finger to help the 9/11 responders, to secure funding for education, to help figure out the BP oil spill, to deal with the Iran uprising, to address the auto industry collapse – nothing. They added weight onto the President’s back with their false attacks, but they didn’t do anything at all until their precious 2% wealthy constituents were at risk of losing their bonus tax breaks. That’s who they are; that’s what’s important to them.

  2. 3 Fred
    January 31, 2011 at 2:01 pm

    that image is so damn perfect and it made me burst out 😆 😆 so much that my boss is looking at me funny 😉
    😆

  3. January 31, 2011 at 5:13 pm

    One advantage of working from home is that only the dog looks at me funny.

    • 5 Dorothy Rissman
      January 31, 2011 at 6:27 pm

      teehee. Being a full time artist in my studio at home, I get the same looks from the two of them. What?


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