Friday, Aug 25, 2006

...A bit more detail on the Consumer Spending story

Reuters: Consumers power economy

Consumer spending powered economic growth to its fastest rate in two years in the second quarter, keeping alive expectations interest rates will rise again in the coming months.

The figures provide further evidence some the economy is growing strongly and mean Chancellor Gordon Brown is almost certain to beat his budget forecast for growth of between 2.0 and 2.5 percent for the full year.

Posted by tyrellcorporation @ 03:52 PM (539 views)
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2 Comments

1. The Bald Man said...

And where is the money coming from? Increased productivity? No from easy credit lent against artifically high property prices. We are just borrowing from the future which is approaching fast. Inflation is rising (despite what the index says) and rates will have to rise and the hosuing bubble will burst.

Friday, August 25, 2006 04:48PM Report Comment
 

2. japanese uncle said...

Another example of those pathetically schizophrenic analysis of the 'strong spending' on pathological borrowing. The same mouth is yelling "Debt Time Bomb!" elsewhere.

Friday, August 25, 2006 09:59PM Report Comment
 

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