, Columnist
Spending Is Hot. Saving Is Not. Something Has to Give
Shop till you drop.
Photographer: David Paul Morris/Bloomberg
The US government released some long-delayed data Thursday that seemed to prove true the cliché about never betting against American consumers.
According to the Bureau of Economic Analysis, spending increased 0.3% in both October and November when adjusted for inflation. The results were in line with the average monthly gain over the past three years, which may lead some to falsely conclude that perhaps Americans aren’t as angry and upset with the high cost of living as the surveys and polls suggest.