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[AirBrian]

WASHINGTON - Consumers — the lifeblood of the economy — boosted their spending in May by the largest amount in more than two years, an encouraging sign for the recovery's strength.

The Commerce Department (news - web sites) reported Monday that consumer spending rose by a sizable 1 percent, a considerable pickup from the 0.2 percent increase registered in April. The increase in May was the largest since October 2001, when spending rebounded with gusto after being depressed by the Sept. 11 terror attacks.

Americans' incomes, meanwhile, went up by a strong 0.6 percent in May for the second straight month. The growth in incomes in the last two months was especially heartening because that powers spending in the future. The income and spending figures are not adjusted for price changes.

Consumer spending accounts for roughly two-thirds of all economic activity in the United States. Thus, it plays a key role in shaping an economic recovery.

The latest snapshot of consumer behavior was better than economists were expecting. They were forecasting a 0.8 percent increase in spending and a 0.5 percent rise in income growth.

When the spending figures are adjusted for inflation, consumer spending rose by a more modest 0.4 percent in May after being flat in April.

http://story.news.yahoo.com/news?tmpl=story&ncid=&e=4&u=/ap/20040628/ap_on_bi_go_ec_fi/economy_2

Let the spin begin.

 

[Mustang]

I am sure Kerry is depressed right now.

Kerry WANTS a shitty economy.

 

[Manders]

Bush has done it again!

 

[shoplifter]

What percentage of said spending was in cash compared to credit?

 

[Cauliflower of Love]

What percentage of said spending was in cash compared to credit?

 

[teepo]

OH NOES IF IT ALL CREDITS GREAT DEPRESSION REDUX! a!#&*@(22

 

[LuckyBrand]

i would also like to see #'s on how many people were spending more money in the late 90's because they thought they had more money because of the inflated stock market...

cmon, we going to ask for #'s for any possible way to spin stuff?

 

[sprsk]

OH NOES IF IT ALL CREDITS GREAT DEPRESSION REDUX! a!#&*@(22

well it would be a bad thing for people to spend alot of money they didnt have wouldnt it.

 

[Hitokage]

When the spending figures are adjusted for inflation, consumer spending rose by a more modest 0.4 percent in May after being flat in April.

Why spin when you can simply read?

 

[SyNapSe]

I will purchase this thread for 99999899999999999 ruples!

 

[Cerebral Palsy]

A two year high from what? The fucking pitful state we were in because of Bush? If I went outside and ran 5 miles today I could say that it was a 500% increase over last week. I didn't exactly run last week, but that 500% increase sure sounds fucking nice to the ears.

 

[Drensch]

I wonder how much it was affected by gas prices and the higher associated prices.