uscitizen
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What are investors waiting for? Consumers.
Jun 21, 1:54 PM (ET)
By MADLEN READ
NEW YORK (AP) - Americans may have poured money back into stocks this year, but market watchers worry that they aren't spending enough on other things - like clothes, cars and computers.
This week, the average U.S. consumer returns to the spotlight. The Commerce Department reports on May personal spending and incomes on Friday, the same day that the University of Michigan reports on June consumer sentiment.
Recent data has shown that Americans' confidence is climbing but their spending is still lagging. Personal spending has fallen for eight of the past 10 months. Consumers are the primary driver of U.S. economic growth, and if their spending doesn't rebound, the market can't, either.
http://apnews.myway.com/article/20090621/D98V77F80.html
Jun 21, 1:54 PM (ET)
By MADLEN READ
NEW YORK (AP) - Americans may have poured money back into stocks this year, but market watchers worry that they aren't spending enough on other things - like clothes, cars and computers.
This week, the average U.S. consumer returns to the spotlight. The Commerce Department reports on May personal spending and incomes on Friday, the same day that the University of Michigan reports on June consumer sentiment.
Recent data has shown that Americans' confidence is climbing but their spending is still lagging. Personal spending has fallen for eight of the past 10 months. Consumers are the primary driver of U.S. economic growth, and if their spending doesn't rebound, the market can't, either.
http://apnews.myway.com/article/20090621/D98V77F80.html