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The CBI's economists predict solid consumer spending and business investment will help to drive the economy this year and next.
For optimists, including Bush-team officials, the key to avoiding such gloom is solid consumer spending, based on low unemployment and strong overall income growth.
We have a low unemployment rate; we have solid consumer spending; we have torrid export activity; we have increased manufacturing activity.
Similar(57)
They look for strong inventory building and capital spending, inspired by solid increases in consumer spending.
Meanwhile, solid growth in consumer spending has sucked in imports.
Now, it wants to wait for solid evidence that consumer spending is recovering as well.
But the White House focused on the bright spots in the report, like solid growth in consumer spending and a surge in residential building.
It was much stronger than the 0.2% increase predicted by economists in a Reuters poll but echoed industry reports of solid growth in consumer spending last month.
That was much stronger than the 0.2% increase predicted by economists in a Reuters poll but echoed industry reports of solid growth in consumer spending last month.
The fairly solid pace of consumer spending underscores the economy's underlying strength and should further allay fears of a recession, which triggered a massive stock market sell-off early this year.
This will support solid growth in consumer spending," he continued.
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CEO of Professional Science Editing for Scientists @ prosciediting.com