Posted on 12/22/2005 9:30:16 AM PST by george76
WASHINGTON - Consumers increased spending moderately in November even though the growth in their incomes slowed a bit, raising doubts about how strong the Christmas sales season will be.
The Commerce Department said personal spending rose by 0.3 percent last month, slightly below the 0.4 percent gain that Wall Street had been expecting.
Incomes rose by 0.3 percent last month, right in line with expectations.
The holiday shopping season has turned in a mixed performance so far with the nation's retailers expected to increase discounting in the final days before Christmas in the hopes of making up for slower-than-expected sales since Thanksgiving.
In other economic news, a closely watched gauge of future economic activity posted a solid increase in November, helped by improving labor conditions.
The Conference Board reported that its Index of Leading Economic Indicators rose by 0.5 percent last month following an even larger 1 percent increase in October.
Seven of the 10 forward-pointing indicators that make up the index showed signs of strength in November, led by declines in the number of newly laid-off workers filing claims for unemployment beneifts.
In a third report, the Labor Department said that there was another drop in unemployment claims last week, which fell to 318,000, down by a better-than-expected 13,000 from the previous week...
(Excerpt) Read more at news.yahoo.com ...
Strange recession.
I'll be the first to say it. Bush's fault.
Amazing! Looks like the medias assault on America isn't working. They must be crying in their soy lattes.
More bad news (for the Dems).
Raise your hand if you believe that. Anyone? Bueller?
How the dems hate this good news for America!
I did 80% of my shopping online this year. Why fight the crowds and MAYBE find what I want?
I'm sure there are many more like me.
...the horse-faced/horse-haired, botox-boosting, impeachment-boasting, seared-in-my-mind Senator from MA!
"Consumers increased spending moderately in November even though the growth in their incomes slowed a bit"
This news is neither good nor bad, certainly not worthy of cheerleading. Increased spending merely reflects inflation (buying the same things that just cost more) while slowing income growth means that the consumers have less to spend (thus going further into debt).
I think you'll also be the only one as well;
President Bush's opponents can't never make themselves say that He' s done anyhting goood for Our Country's economy.
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