Freer Spending Gives Hope for Recovery

Published on:
12 September 2006 at 10:18 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00000981-freer-spending-gives-hope-for-recovery/

WASHINGTON – Shoppers spent more freely in July, raising hopes that June’s economic lull would not last.

The Commerce Department reported Monday that consumers, key shapers of U.S. economic activity, boosted spending by 0.8 percent in July from the previous month. Their appetite to spend was led by a rebound in demand for big-ticket goods, such as cars, helped by buyers’ incentives.

The latest snapshot of buyer behavior marked an improvement from June, when consumers cut spending by 0.2 percent as high energy prices and a sluggish job market weighed on consumers’ willingness to spend.

Incentives on cars and discounting of other goods helped to bring buyers back in July. “Consumers know a deal when they see one and know when to wait for one to show up,” said Joel Naroff, president of Naroff Economic Advisors.

For this complete story, please visit Freer Spending Gives Hope for Recovery.

Freer Spending Gives Hope for Recovery

Unknown Author

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