NEW YORK ( TheStreet) -- The consumer is back and spending more freely than most pundits (myself included) anticipated.The Great Recession of 2008 was centered on overleveraged households and a retrenching of consumer spending. In the second half of 2008, consumer spending was declining at an annualized rate of more than 3% and the overall contraction in spending was the most severe since the 1930s.
Consumer Spending Is Here to Stay
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