LA Times reports that the US economy grew in the 3rd QTR, behind consumer spending, by 2.5%. Spending increased nearly three and half times the rate of that in the 2nd QTR. While the pace of growth is too slow to significantly reduce the current high unemployment, it is welcomed news for retailers. One big gainer was the automobile industry and saw a big bump in sales. And with the holidays fast approaching increased spending is a highly popular word.
What are your thoughts on this year’s holiday spending? How will it compare to last year’s?
For the full article, please visit: http://latimesblogs.latimes.com/money_co/2011/10/economy-growth-third-quarter.html
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