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The U.S. consumer is back. Well, maybe...
After a long slumber, U.S. consumers might finally be waking up to add their weight to the U.S. recovery.
Existing-home sales jumped 10% in September, rising for the second month in a row, figures showed Monday. While the increase was largely just a rebound from depressed levels following the end of a tax credit in the summer, the housing market at least appears to be stabilizing.
Meanwhile, retail sales came in stronger than expected in September, with the U.S. government revealing spending in the previous two months was better than initially reported. Expectations are starting to emerge that consumers will boost their discretionary spending in the fourth quarter.
"I think retail sales are going to be a little better than expected [during the holiday season]," said Joseph Carson, director of global economic research at AllianceBernstein LP in New York. "Consumers` fundamentals are better, and I think their pace of spending will pick up over time."
Read the full article here.
After a long slumber, U.S. consumers might finally be waking up to add their weight to the U.S. recovery.
Existing-home sales jumped 10% in September, rising for the second month in a row, figures showed Monday. While the increase was largely just a rebound from depressed levels following the end of a tax credit in the summer, the housing market at least appears to be stabilizing.
Meanwhile, retail sales came in stronger than expected in September, with the U.S. government revealing spending in the previous two months was better than initially reported. Expectations are starting to emerge that consumers will boost their discretionary spending in the fourth quarter.
"I think retail sales are going to be a little better than expected [during the holiday season]," said Joseph Carson, director of global economic research at AllianceBernstein LP in New York. "Consumers` fundamentals are better, and I think their pace of spending will pick up over time."
Read the full article here.