Consumer Spending Rebounds in July(BS Yes or No)

[MikeNearMcChord]

WASHINGTON (AP) -- Consumers returned to the malls in July after taking a breather in June, although worries about the future could make the rebound short-lived.

The Commerce Department reported Friday that consumer spending rose by 0.4 percent in July, double the June increase. The spending was supported by a solid 0.5 percent rise in incomes, the best showing in this area in four months.

The gain in spending was right in line with expectations, while the increase in incomes was double what analysts had been expected. However, economists cautioned that the July increases could be temporary given recent weakness in consumer confidence caused by a prolonged slump in housing and the past several weeks of financial market turbulence.

http://biz.yahoo.com/ap/070831/economy.html?.v=7

[MikeNearMcChord]

1. Any of you get any Strong income growth?

I didn't

[Donnachaidh]

2. bollocks -- yet more "push" economics

Catapulting the propaganda still does not get bodies into the empty mall nearby.

[acmavm]

3. If you call rebounding crawling out of the bottom of the toilet and

hovering around the waterline, I suppose we're rebounding.

[Deja Q]

4. Saturday afternoons are still brutal;

and most people don't go shopping on Saturday evenings.

I don't think the article is BS.

The REAL test will come Xmas season, starting in about 2.5~3 months.

[ProfessorGAC]

5. Not B.S. - But. . .

. . .they're wrapping vomit in a pretty paper and calling it a present. The 0.4% rise is income not a very encouraging number. It's higher than a horrible June. That doesn't make it good!

Also, the income increase is likely due to the fact that LOTS and LOTS of union contracts come up in the summer, so those automatic elevatations kick in during July.

This news is much ado about nothing.
The Professor