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Why has consumer spending held up so well?
This largely explains why consumer spending held up last year as share prices tumbled.
Spending held up fairly well in Sweden, chief redoubt of Spotify, a legal music-streaming service.
The much more important consumer spending held up, preventing the economy from contracting until late summer.
The economic data last week showed that consumer confidence improved last month and that consumer spending held up in October.
Senate Republicans said that little had fundamentally changed from years past, when education spending held up the budget.
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That's why the second observation about the rich, that they did not get where they are by being careless with their spending, holds true.
If consumer spending holds up, with help from lower interest rates, then the prospect of rising profits will revive capital spending before this year ends.
Signs of spending holding up well have been one of the main factors behind City analysts toning down their earlier forecasts for a post-referendum slump.
For the first time, Monday's document explicitly pledges to reverse that, in part by increasing welfare spending, holding down the prices of staples like housing, and raising the salaries of common workers.
"We're kind of teetering on a tightrope here," he says, with capital spending pulling the economy down while consumer spending holds it level.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com