Consumer spending could be stabilizing

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U.S. retail sales, excluding automobiles, rose in the first two months of 2009.

According to the Financial Post, the increase suggests U. S. consumer spending — the main driver of the economy for years — may be stabilizing.

“The latest retail sales report is an important one, for it increases the probability that this recession is starting to wind down,” Bernard Baumohl, chief global economist with the Economic Outlook Group, told the newspaper.

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Comments

One comment on “Consumer spending could be stabilizing

  1. Marty Pozo

    In these economic times, that is very good news for our industry. We have experienced a significant increase in traffic and boat sales at our dealership. We are still dealing with the bank’s stringent lending policies for our buyers. With the recent news of some of the major banks reporting significant net profits for the first two months of the year, we are hopeful that they will start lending some of that stimulus money.

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