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http://www.businessinsider.com/once-again-the-us-consumer-is-expected-to-save-the-day-2013-5
***SNIP
But no worries. Why bother with manufacturing when US personal consumption remains firmly above 70% of the GDP.
The conventional wisdom goes that if the consumer is happy and in a spending mood, the US economy should grow. And given the ongoing rally in housing and stocks, American consumers seem quite happy indeed. Consumer sentiment hit a post-recession high this month (chart below). Now we just have to see if this happiness translates into sales.
Given these improvements in consumer sentiment, nobody seems to care much about the silly manufacturing slowdown. The consensus seems to be that the US consumer will come to the rescue once again.
***SNIP
But no worries. Why bother with manufacturing when US personal consumption remains firmly above 70% of the GDP.
The conventional wisdom goes that if the consumer is happy and in a spending mood, the US economy should grow. And given the ongoing rally in housing and stocks, American consumers seem quite happy indeed. Consumer sentiment hit a post-recession high this month (chart below). Now we just have to see if this happiness translates into sales.
Given these improvements in consumer sentiment, nobody seems to care much about the silly manufacturing slowdown. The consensus seems to be that the US consumer will come to the rescue once again.
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