No Wonder Consumers Are Buckling
The linchpin keeping the U.S. economy narrowly in the black in the second quarter was the consumer. The everyday Joes and Janes of America were either recycling home equity lines of credit or digging further into debt. The drop in mortgage rates and the steady disbursement of federal income tax rebate checks this summer may help bolster this last standing pillar of growth into the third quarter as well.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.