Americans spend a bit more as economy limps along

As I suggested in my commentary, If you don’t like the message conveyed by economic time series, revise it! , personal spending and consumption data, as well as many more economic series, are hardly worthy following due to constant revision and massaging techniques. Capital flows could care less about utopia theories based on biased and historically uncomparable economic times series.

Americans are spending a little more this summer, but hardly enough to rejuvenate the weakening economy.

What is needed is a bigger boost in salaries and more jobs. Economists don't see either coming this year, which is why the economy is likely to limp along.

Source: news.yahoo.com