what effect will this have on the election?

evince

Truthmatters
http://money.msn.com/business-news/article.aspx?feed=OBR&date=20121029&id=15727875



Consumer spending picks up, but savings a worry

October 29, 2012 11:27 AM ET.

By Lucia Mutikani











WASHINGTON (Reuters) - Consumer spending rose solidly in September, putting the economy on a firmer footing heading into the fourth quarter even though households had to pull back on saving to fund purchases.

The Commerce Department said on Monday that consumer spending rose 0.8 percent, the largest increase since February, after an unrevised 0.5 percent gain in August.

Spending accounts for about 70 percent of U.S. economic activity and last month's increase offered a strong hand off from the July-September period to the current quarter.

"The jumping off point, or the base point, is already pretty high. You have a lot of momentum going into the fourth quarter," said Ellen Zentner, a senior U.S. economist at Nomura Securities in New York.

The rise beat economist's expectations for a 0.6 percent increase last month. When adjusted for inflation, consumer spending rose 0.4 percent after edging up 0.1 percent in August.
 
http://money.msn.com/business-news/article.aspx?feed=OBR&date=20121029&id=15727875



Consumer spending picks up, but savings a worry

October 29, 2012 11:27 AM ET.

By Lucia Mutikani











WASHINGTON (Reuters) - Consumer spending rose solidly in September, putting the economy on a firmer footing heading into the fourth quarter even though households had to pull back on saving to fund purchases.

The Commerce Department said on Monday that consumer spending rose 0.8 percent, the largest increase since February, after an unrevised 0.5 percent gain in August.

Spending accounts for about 70 percent of U.S. economic activity and last month's increase offered a strong hand off from the July-September period to the current quarter.

"The jumping off point, or the base point, is already pretty high. You have a lot of momentum going into the fourth quarter," said Ellen Zentner, a senior U.S. economist at Nomura Securities in New York.

The rise beat economist's expectations for a 0.6 percent increase last month. When adjusted for inflation, consumer spending rose 0.4 percent after edging up 0.1 percent in August.

Sorry. It's a little to late. Bush Sr had some good late economic news but it didn't help him. It wasn't until after the election that the media finally proclaimed "Oh yeah, that recession thingy ended months ago"
 
If I hear anyone on the street say "consumer spending rose 0.8%" I will give you your props Desh. And if I hear anyone say "consumer spending rose 0.8% and I'm going to change my vote as a result" I will fly to wherever your are to kiss your feet and post it on JPP.
 
Sorry. It's a little to late. Bush Sr had some good late economic news but it didn't help him. It wasn't until after the election that the media finally proclaimed "Oh yeah, that recession thingy ended months ago"

Didn't Poppy Bush lose because a bunch of people voted for an independent candidate?
 
oh the only part of this mess is a housing bubble?


gee you used to care about deficits or at least pretended to care
 
oh the only part of this mess is a housing bubble?


gee you used to care about deficits or at least pretended to care

Ummm, yes I do care about deficits but that's not what we were discussing. The financial meltdown wasn't caused by large deficits. The finanical meltdown wasn't caused by wars.
 
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