That is one of the reasons that the consumer confidence numbers are probably the most overrated economic indicators around. You have to look at what consumers do, not what they say, and the two are often different.This report suggests that consumer spending will be a nice contributor to GDP growth in the fourth quarter. We will need that help given the likely drag from lower residential investment, slowing government stimulus (including cut backs at the state and local level). Of course, this is just two of three months, and by far the most important of the three is yet to come.
November Retail Sales Encouraging
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