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Consumer Spending in U.S. Slowed in August

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titaniumsalute Donating Member (558 posts) Send PM | Profile | Ignore Fri Sep-30-11 07:54 AM
Original message
Consumer Spending in U.S. Slowed in August
Source: Bloomberg

Consumer spending in the U.S. slowed in August as incomes unexpectedly dropped for the first time in almost two years, forcing households to use up savings.

Purchases rose 0.2 percent after a 0.7 percent increase the prior month, Commerce Department figures showed today in Washington. A 0.2 percent advance in prices wiped out the gain in so-called nominal, or unadjusted, spending. Incomes decreased 0.1 percent, the first decline since October 2009.


Read more: http://www.bloomberg.com/news/2011-09-30/consumer-spend...
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Bragi Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-30-11 07:56 AM
Response to Original message
1. What, is everyone asking for refunds?
Hard to imagine that consumer demand could get any weaker.
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ixion Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-30-11 07:58 AM
Response to Reply #1
2. just watch
we've not seen the worst of it yet.
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SOS Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-30-11 11:22 AM
Response to Reply #2
10. Exactly
European sovereign debt is now being held together with silly string and scotch tape.
The international banking system is on the verge of collapse (again).
We are in the early stages of a global debt crisis that will go on for many, many years.
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cstanleytech Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-30-11 08:26 AM
Response to Original message
3. I dont know about anyone else here but what hit our household bad to cut our spending this month was
yet another high ass electric bill, combo of heat wave + the electric company hiking the rates during the summer was painful to the wallet.
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titaniumsalute Donating Member (558 posts) Send PM | Profile | Ignore Fri Sep-30-11 08:48 AM
Response to Reply #3
5. and couple that with near record high gasoline bills
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Auntie Bush Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-01-11 08:51 AM
Response to Reply #5
14. But remember we're NOT experiencing inflation...no need to raise the COLA.
All is just hunky dory! :sarcasm:
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NickB79 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-30-11 12:08 PM
Response to Reply #3
11. Same here. Our electric bill DOUBLED
The heat was bad this summer, even all the way up here in Minnesota. Combine that with the need to run a dehumidifier and sump pump constantly to keep our basement dry and prevent mold due to a horribly wet winter and spring, and our electric bill went into the stratosphere.
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locahungaria Donating Member (194 posts) Send PM | Profile | Ignore Fri Sep-30-11 08:30 AM
Response to Original message
4. "..incomes UNEXPECTEDLY dropped....."?
Yeah, who could have seen THAT coming! :sarcasm: :banghead:
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xxqqqzme Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-30-11 09:30 AM
Response to Original message
6. What?
When all that talk about 'job creators' was flying fast and furious?

Couple this bit of news along w/ the luxury items market booming and, why lookee here, I do believe class warfare is at hand.
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pam4water Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-30-11 10:11 AM
Response to Original message
7. It was down by a lot more than that around here and things had been holding up better here than
other parts of the country.
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jwirr Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-30-11 10:52 AM
Response to Original message
8. I am not spending - usually for Xmas I start buying a little at a time
about now. This year I am making my gifts - my 9 great grandchildren are all getting personalized quilts, the rest will get homemade cookies (which of course the ggchildren will also eat) and books from my library.

There just is not enough money to splurge on mostly things no one needs.
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tawadi Donating Member (631 posts) Send PM | Profile | Ignore Fri Sep-30-11 11:04 AM
Response to Original message
9. People have to have jobs to spend money.
Well paying, secure, permanent employment.
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tpsbmam Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-30-11 12:09 PM
Response to Original message
12. When are the oligarchs going to get a clue? Starving the populace
does NOT lead to the populace spending money. This is one huge fucking DUH on the part of the assholes who KNOW that the world economy is being trounced by the oligarchs who are striving for international ownership of everything while doing their best to create a serfdom of low-wage peons doing their bidding and further enriching them. And then we're supposed to SPEND?!!? Yeah, right, jackasses. Ain't gonna happen.


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Supersedeas Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-01-11 08:34 AM
Response to Reply #12
13. they are waiting until November 2012 to decide when/if to hire
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Auntie Bush Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-01-11 09:01 AM
Response to Reply #13
15. I've been saying that for years. Most all are economic problems
are deliberate due to politics and wanting this President to fail. We have to stick together and make sure he doesn't fail or we're screwed!
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