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Title: Ka-ching! Shoppers Keep Registers Humming
Source:
Associated Press
URL Source: http://www.sfgate.com/cgi-bin/artic ... /03/29/national/w053556D94.DTL
Published: Mar 29, 2010
Author: Associated Press
Post Date: 2010-03-29 15:18:05 by Brian S
Keywords: None
Views: 644
Comments: 39
(03-29) 11:30 PDT WASHINGTON (AP) -- Confidence is growing that the economic recovery won't fizzle out. Consumers kept cash registers humming last month at a decent pace, pointing to modest and steady economic gains ahead. The Commerce Department reported Monday that consumers boosted their spending by 0.3 percent in February, marking the fifth straight monthly gain. Nigel Gault, chief U.S. economist at IHS Global Insight, called it "an encouraging sign of consumer revival." The pickup in spending was a tad slower than the 0.4 percent increase registered in January and marked the smallest increase since September. Nonetheless, the spending gain was considered decent, especially given the snowstorms that slammed the East Coast and kept some people away from the malls. "Households are starting to ease up on their tight grip on their wallets, though it would be nice if they had more money to spend," observed Joel Naroff, president of Naroff Economic Advisors. Americans' incomes didn't budge. Incomes were stagnant in February, as the bad weather forced employers to trim workers' hours. That followed a solid 0.3 percent gain in January and marked the weakest showing since July, when incomes actually shrank. Income growth is the fuel for future spending. February's flat-line reading suggests shoppers will be cautious in coming months. Spending growth in February matched economists' expectations. The reading on income was a bit weaker than forecast. Both the spending and income figures in Monday's report point to a modest economic recovery. That cheered Wall Street investors. The Dow Jones industrial average gained 35 points in mid afternoon trading. Many analysts predict the economy slowed in the first three months of this year after logging a big growth spurt at the end of 2009. The economy will expand at a 2.5 percent to 3 percent pace in the January-to-March quarter, analysts predict. That's roughly half the 5.6 percent pace seen in the final quarter of last year. In normal times, growth in the 3 percent range would be considered respectable. But the nation is emerging from the worst recession since the 1930s. Sizzling growth in the 5 percent range would be needed for an entire year to drive down the unemployment rate, now 9.7 percent, by just 1 percentage point. Unlike past recoveries, where consumer spending led the way, this one is hinging more on the spending of businesses and foreigners. High unemployment, sluggish wage gains, hard-to-get credit and record-high home foreclosures are all expected to deter consumers from going on a spending spree — one of the main reasons why the pace of the recovery will be more subdued than in the past. With spending outpacing income growth, Americans' savings dipped in February. Americans saved 3.1 percent of their disposable income, down from 3.4 percent in January. It was the lowest reading on the savings rate since October 2008 and suggested that people have more of an appetite to spend. Consumers increased their spending on "nondurable" goods, such as food and clothing, by 0.7 percent in February. That was down from a 1.7 percent increase in January. They boosted spending on services by 0.3 percent, up from a 0.2 percent rise in January. But they cut spending on "durable" goods, such as cars and appliances, by 0.4 percent, not as deep as the 1.4 percent reduction in January. Consumer spending accounts for the single-biggest slice of overall economic activity. That's why it is so closely watched by investors and economists. So far in the current quarter, consumer spending is shaping up to be better than it was at the end of last year. "U.S. consumers board recovery train," said Sal Guatieri, economist at BMO Capital Markets Economics. For the entire January-to-March quarter, analysts think consumer spending will grow at a pace of around 3 percent. That would mark an improvement from the 1.6 percent growth rate logged in the final quarter of last year and would be the biggest increase in three years. Analysts are growing more confident that consumers will keep spending sufficiently into the coming months as the job market heals. Economists predict that employers added around 190,000 jobs in March, in what they hope will be the start of consistent payroll gains. If they are right, it would mark the biggest jobs gain in three years. The unemployment rate is expected to stay at 9.7 percent for the third straight month. The expected turnaround in job-creation would be welcome, but many economists say it will take at least until the middle of this decade for the situation to get back to normal, meaning a jobless rate of 5.5 percent to 6 percent. And, it will also take years for the economy to recover the 8.4 million jobs wiped out by the recession.
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#1. To: Brian S (#0)
One failed term President this does make.
my anti groupie can't get through life without me.
In every past recovery, we saw upticks in business "spending", i.e. investment, BEFORE the consumer showed up...business spending and speculative investment turned steady up in mid 1982 while consumer spending was all over the map for the next several years. Consumer activity is tied to employment...employment is a LAGGING indicator...
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
HAHAHAHAHAHAHA! Gee, ya' think? income up .1%????????????????????? Who writes this crap? That is anemic to the core.
Goldi-Lox: You're one dumb-fucking bitch.
War, Spending cannot be sustained if income doesn't pick up. The income was up a paltry .1% for February. That was very poor. Sure, it wasn't a contraction, but I suspect the increase was due to more hours worker, not people getting employed.
Goldi-Lox: You're one dumb-fucking bitch.
Way to keep shilling, Brian. One more "good news" skid-mark economic report. Consumers kept cash registers humming last month at a decent pace... "Humming" where? At the Dollar Store?? The expected turnaround in job-creation would be welcome... DUH. "It would be nice if they had more money to spend," observed Joel Naroff, president of Naroff Economic Advisors. DUH again. Who writes this drivel?? The AP? Many economists say it will take at least until the middle of this decade for the situation to get back to normal, meaning a jobless rate of 5.5 percent to 6 percent. in other words, 0bama's bogus promise that the $800 billion "Stimulus" was going to make the boo-boo all better was another L-I-E. Where did the $800 billion he's stolen from us? Anyone?? 0bama is the Neutron Bomb of Presidents. A total f*** up.
Who writes this crap? Liberals, Leftists, and effete, cosmopolitan, crack addicted "journalists." They're orgasmic over fake .1% numbers - I can't wait for them to take the pipe when the real numbers must be published.
In the past we had a real President - not a fake "Communist "President." Btw, you've made ZERO revelation about the dynamics of a growing economy. We know... NO body will be investing until this POS is GONE, dum-dum. Can you possibly be this detached from reality? Ronald Reagan energized an economy because that was the goal; The goal of your Marxist "President" is to chop us and our economy to pieces and bury the bodies under every porch in America and "redistribute" the wealth of the dead.
That "theory" has been blown to shit since about 1981 and you must have been comatose as Boy Blunder spent like a Drunken Sailor. Get any chart of personal income and superimpose upon it personal consumption and after you've learned something get back to me. The income was up a paltry .1% for February. That was one month...and a month in which dividends are not paid but it was a month where we did see massive asset reallocation out of safe harbor instruments into risk which is a positive. You really have no clue as to how to read these numbers.
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
Wow...this thread jumps from 4 to 8...what happened to 5 6 and 7? [snicker]
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
It never fails to amuse me when I hear of posters that trashed everything related to Reagan for the past decade in forums cite him in a postive light since Owe-bama became President. Its absolutely hysterical...and revealing.
my anti groupie can't get through life without me.
You are positively an incredible lying fuck. Just fuck you, you detestable piece of crap. I wouldn't stoop to the level of asking your source because it's completely comical to think you actually have one you bulging foreheaded bloviating gasbag. Anyone wanting to catch a glimpse needs only to take a gander at VC/PE investment playing field trending.
Death to everybody who does not get outta my way. And the latest Eisteinian revelation from LF's resident Barack poodleboy......."Yeah, and Oswald was a right winger, too. He was... war posted on 2010-03-22 20:12:36
Stupid retard....anyone not nearing the "passed out" phase could focus well enough to see the posts numbered 4-8. That should be qualified further noting that earmuffed pansies with their faggot bozo filters fit the bill too. You have both bases covered. {snicker} Now get right on back in front of your mirror and have some worthwhile dialog 'kay?
Death to everybody who does not get outta my way. And the latest Eisteinian revelation from LF's resident Barack poodleboy......."Yeah, and Oswald was a right winger, too. He was... war posted on 2010-03-22 20:12:36
Where was Reagan cast in a positive light, Boofer? And I thought I was being both filtered and ignored?
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
Sorry, the us consumer, in case you haven't heard, is up to his eye-balls in debt and the days of the HELOC and credit living are gone. But hey, if it works for you, continue with it.
Goldi-Lox: You're one dumb-fucking bitch.
And the only time that the consumer retrenches and pays down debt is during times like these. Credit is going to ease again and be available. It's not going to stay life this forever...the economy is an ocean...with times of calm, storm, eddies, rough seas and fog...
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
Its absolutely hysterical...and revealing. Well considering the source (your OCD anti-groupie), are we really surprised? It's still not helping his warped point, only illuminating further his hypocrisy and delusions. That this nut is actually defending 0bama's by invoking the name of Reagan is in itself...goofy.
LOL
I was speaking of GO65, and Brian S. I don't see my anti groupie unless one of you cut and paste something it spews and then ping me. I can live quite well without that, btw. He hasn't had a 'new thought or comment' in over ten years now.
my anti groupie can't get through life without me.
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
And most of us voted against the GOP due to the Republican House and the Bush Administrations insane spending and growth of the Federal Government. Today, Owe-bama has tripled those catagories...and we're supposed to keep quiet about it, according to the lunatic left that chanted 'Speak Truth to Power' for 18 months in the 04 campaign cycle. How ironic....
my anti groupie can't get through life without me.
Stupid retard....anyone not nearing the "passed out" phase could focus well enough to see the posts numbered 4-8. That should be qualified further noting that earmuffed pansies with their faggot bozo filters fit the bill too. Bwaahaa! Yeah, 5,6, and 7 were guzzled with yesterday's lunch. Does Bozo Boy realize he's your crash dummie?
By your own admission, you ended up voting for every republican running. And after predicting that McCain would never ever be the GOP nomniee in 2008, you ended up voting for him too... You are most certainly a legend in your own mind, Boofer. And a pussy faced liar in a Hagar suit to everyone else.
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
Oh THOSE two brainiacs...I shake my head then laugh at their posts every time I come here.
One response out of five is well written, intelligent, and has a point that has something to do with the topic with them in my long experience. Thats good enough to ping to, given the nature of this particular website...(chuckle) Okay, with Brian its one out of twenty...but that still trumps what you get from the anti groupie, or abu dabba doo, skippy intro, miningforbullshit, and lucysbeeyatch. JMHO.
my anti groupie can't get through life without me.
That's bullshit. I'm good for one in twenty.
Undoubtedly you've obvious refuse to read the link Bill D Berger posted regard 9/11 ... Luberator
Why don't you two get a room? Lubricator's already greased up for you.
"I’ll just tell you this, if this passes and it’s five years from now and all that stuff gets implemented — I am leaving the country. I’ll go to Costa Rica!" -Rush Limbaugh
19 Dude...don't sell yourself short... But keep in mind that Boofer believes that Jefferson wrote the Bill of Rights...
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
You're being a bit generous on that ratio, but the comedy value must also be considered. abu dabba doo, skippy intro, miningforbullshit, and lucysbeeyatch. LMAO! That's some good stuff right there.
Why? Wanna hide in the closet? Lol, freak.
...and of course the kooks always inadvertently admit to being lonely...as that last one you replied to shows. But hey, they got basements! True, its mommies, but hey its their space! They can cut loose, man...til 10 pm when mommy goes into a drunken stupor anyway..
my anti groupie can't get through life without me.
Chuckles......dwarf doesn't realize where his feet are let alone the ridicule being dumped on his flat top. I told him either to ignore or use his blinders like a good little silent bitch so I don't have to see his sniveling bleated yapping responses to the verbal "Vibram-izations" I give him and IT'S GREAT:):):):)
Death to everybody who does not get outta my way. And the latest Eisteinian revelation from LF's resident Barack poodleboy......."Yeah, and Oswald was a right winger, too. He was... war posted on 2010-03-22 20:12:36
Thanks, man. I try. Btw, company hockey tournament today. I've got my Charlestown Chiefs shirt on and everything.
Undoubtedly you've obvious refuse to read the link Bill D Berger posted regard 9/11 ... Luberator
Ha...have fun...last time I put on skates I was taken off on a stretcher...caught my edge in a half moon at full speed...you can figure out the rest... We were up at T3 Jr Nationals in Boston over the weekend for Best Of Rest All Star Tourney. Son was named Rookie of the Year.
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
You know it! The cooler filled with beer is at the back door already. We're all set.
Undoubtedly you've obvious refuse to read the link Bill D Berger posted regard 9/11 ... Luberator
Congrats, abu el Undoubtedly you've obvious refuse to read the link Bill D Berger posted regard 9/11 ... Luberator
Ha...thanks...
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
Congrats to your son. RIT rocks! Believe it or not I watched some of it last night. I channel surfed away and came back and they had scored 3 goals in less than two minutes, while I was away.
You watched the replay v. UNH? And thanks...he's worked very very hard...
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
'Confidence is growing that the economic recovery won't fizzle out' 'Incomes were stagnant in February' 'Unlike past recoveries, where consumer spending led the way, this one is hinging more on the spending of businesses and foreigners. ' 'With spending outpacing income growth, Americans' savings dipped in February. ' 'but many economists say it will take at least until the middle of this decade for the situation to get back to normal, meaning a jobless rate of 5.5 percent to 6 percent. And, it will also take years for the economy to recover the 8.4 million jobs wiped out by the recession. '
#2. To: Badeye (#1)
'Unlike past recoveries, where consumer spending led the way, this one is hinging more on the spending of businesses and foreigners...
#3. To: Brian S (#0)
The reading on income was a bit weaker than forecast.
#4. To: war (#2)
In every past recovery, we saw upticks in business "spending", i.e. investment, BEFORE the consumer showed up...business spending and speculative investment turned steady up in mid 1982 while consumer spending was all over the map for the next several years. Consumer activity is tied to employment...employment is a LAGGING indicator...
#5. To: Brian S (#0)
#6. To: Nebuchadnezzar (#3)
income up .1%?????????????????????
#7. To: war (#2)
In every past recovery, we saw upticks in business "spending", i.e. investment, BEFORE the consumer showed up...business spending and speculative investment turned steady up in mid 1982 while consumer spending was all over the map for the next several years. Consumer activity is tied to employment...employment is a LAGGING indicator...
#8. To: Nebuchadnezzar (#4)
(Edited)
Spending cannot be sustained if income doesn't pick up.
#9. To: All (#8)
#10. To: Liberator (#7)
#11. To: Dwarf (#8)
we did see massive asset reallocation out of safe harbor instruments into risk which is a positive.
#12. To: DwarF (#9)
(Edited)
Wow...this thread jumps from 4 to 8...what happened to 5 6 and 7?
#13. To: Boofer (#10)
#14. To: war (#8)
That "theory" has been blown to shit since about 1981 and you must have been comatose as Boy Blunder spent like a Drunken Sailor. Get any chart of personal income and superimpose upon it personal consumption and after you've learned something get back to me.
#15. To: Nebuchadnezzar (#14)
Sorry, the us consumer, in case you haven't heard, is up to his eye-balls in debt and the days of the HELOC and credit living are gone.
#16. To: Badeye (#10)
It never fails to amuse me when I hear of posters that trashed everything related to Reagan for the past decade in forums cite him in a postive light since Owe-bama became President.
#17. To: e_type_jag, Spandex Tighty-Whitey (#11)
"bulging foreheaded bloviating gasbag."
#18. To: Liberator, GO65, Brian S (#16)
#19. To: Boofer (#18)
#67. To: war (#48) Keep hiding behind the bozo, bozo. (laughing) You've always been a world class pussy. Badeye posted on 2010-01-14 16:12:48 ET Reply Trace
#20. To: Nebuchadnezzar (#14)
#21. To: e_type_jag (#12)
dWARf: "Wow...this thread jumps from 4 to 8...what happened to 5 6 and 7?"
#22. To: Boofer (#20)
(Edited)
And most of us voted against the GOP due to the Republican House and the Bush Administrations insane spending and growth of the Federal Government.
#23. To: Badeye (#18)
I was speaking of GO65, and Brian S.
#24. To: Liberator (#23)
#25. To: Badeye (#24)
#26. To: Liberator, Badeye (#23)
#27. To: Abu el Banat (#25)
(Edited)
#28. To: Badeye, e_type_jag (#24)
One response out of five is well written, intelligent, and has a point that has something to do with the topic with them in my long experience. Thats good enough to ping to, given the nature of this particular website...(chuckle)
#29. To: Skip Intro, Badeye (#26)
Why don't you two get a room?
#30. To: Liberator (#29)
#31. To: Liberator (#21)
(Edited)
Does Bozo Boy realize he's your crash dummie?
#32. To: war (#27)
19 Dude...don't sell yourself short...
#33. To: Abu el Banat (#32)
#34. To: Abu el Banat (#32)
#35. To: war (#34)
#36. To: war (#33)
Son was named Rookie of the Year.
banat son.
#37. To: Abu el Banat (#36)
#38. To: war (#33)
Son was named Rookie of the Year.
#39. To: Fred Mertz (#38)
(Edited)
Believe it or not I watched some of it last night.
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