The markets received another poor economic report this morning that showed personal spending by consumers, dropped 0.2% to mark the first decline in nearly two years. The report defied economists expectations for a 0.1% increase. A positive twist to this could be that consumers are doing some much needed saving, but when our economy is based on consumer consumption this is likely not the news the market was hoping to hear.
Read a more detailed report here.
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- Consumer spending & income/pending home sales/consumer sentiment — full reports here
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