Consumer spending expected to slow down

[xchrom]

http://www.marketwatch.com/story/consumer-spending-expected-to-slow-down-2011-05-22

WASHINGTON (MarketWatch) — Despite persistent unease over their personal finances, consumers remain the backbone of the economy, and data to be released this week will show the state of their spending.

On Friday, the Commerce Department will report on consumer spending, personal income and inflation for April. Economists polled by MarketWatch expect consumer spending to slow down somewhat, rising 0.5% in April compared with a gain of 0.6% in March. See economic calendar.

“U.S. personal consumption spending has grown for nine consecutive months, and the uptrend likely extended to April if that month’s retail data is any guide,” wrote analysts at CIBC World Markets in a research note.

Meanwhile, Wall Street is looking for personal income to gain 0.4% in April on higher labor income, compared with an increase of 0.5% in March.

[LiberalLoner]

1. Whodathunkit? I guess people who are unemployed or underemployed or

even just paying so much for gas and food they don't have much left over, don't spend much money.

Who could ever have anticipated such a thing?

"My goodness, here in the Hamptons where all us economists live, consumer spending is doing just fine. We just figured it was the same all over the nation..."

[onethatcares]

2. who the hell decided we should become a consumer nation

instead of a producing nation? And why the hell wasn't I asked?

I agree with the last poster,who's gonna spend money if they don't know if they'll have a job tomorrow or next week?