A recession seems unlikely when consumer spending is this strong: (via M_C_Klein)
Overall spending, excluding at gasoline stations, rose by 0.6% on a seasonally adjusted basis between June and July. That is the biggest monthly gain in a year.
Average spending in the May-July quarter was 1.8% higher than in the February-April period. Since the start of the year, spending outside of gasoline stations is up about 3.3% compared to... Subscribe or Sign In to continue reading.
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