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The world is counting on the spending of consumers like Li and Tian.
The retail sector has been struggling as rising commodity costs and stubborn unemployment have held back the discretionary spending of consumers, and retailers have responded in recent months with discounting and promotions.
Economic indicators released over the last month have suggested that the higher rates are beginning to rein in the economy by damping the spending of consumers, slowing the pace of job creation and taking some of the steam out of the stock market.
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Besides, the commercial media culture supported by this spending is itself probably undermining the spending power of consumers.
More recently tumbling prices for natural resources, especially oil, have boosted the spending power of consumers from Detroit to Delhi.
In the Duesenberry model, spending propensities of consumers and investors are such as to generate steady growth in demand.
Wages and profits have slipped in export-oriented coastal zones of China, limiting the spending power of consumers.
Still sensitive to the spending habits of consumers, the company has not glimpsed an end to that recession.
In the developed world, however, higher commodity prices may act as a deflationary force, a tax that reduces the spending power of consumers.
"It appears as if there really is some caution developing in the spending habits of consumers," said Joel Naroff, an economist at Naroff Economic Advisers.
Some, however, have cautioned against reading too much into the report, because it has no bearing on actual spending patterns of consumers.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com