Monday, March 01, 2004
So, consumer income growth falls, and consumer spending increases, and this is somehow good news
AP here:
To some it's good news, maybe. Credit card companies? Money changers?
And, once again, where it matters to you—jobs, money in your pocket—the numbers turn out to be "over-optimistic" (synonym: cooked) yet again, as they have been throughout the Wecovery.
While spending remained healthy, consumer incomes grew by only 0.2 percent in January, compared with 0.4 percent for December. The income reading fell short of the 0.6 percent growth forecast by Wall Street, but the spending number appeared to hold more weight with investors.
To some it's good news, maybe. Credit card companies? Money changers?
And, once again, where it matters to you—jobs, money in your pocket—the numbers turn out to be "over-optimistic" (synonym: cooked) yet again, as they have been throughout the Wecovery.
