Exact(2)
But I think it's a mistake to view consumer spending as merely, or even predominantly, an effect of other economic changes.
Osborne will make clear in his speech that he shares the governor's view – consumer spending is driving the recovery and it will only become a sustained one when business investment picks up.
Similar(58)
For every hour of online video viewing, consumers spend 57 hours watching TV.
The company said it still had a cautious view on consumer spending.
Meanwhile, a survey from Lloyds TSB gave a different view of consumer spending, at least for last month.
A rise in the index could support the view that consumer spending, which underpins two-thirds of the economy, will not let up.
The view that consumer spending, which accounts for 70% of the US economy, will hold up in 2013 is widely held.
It would be no surprise if he turned out to be a wealthy financier who had taken up budget policy as a retirement hobby (like Peter G. Peterson) or a professional forecaster whose views on consumer spending are bearish (like Gary Shilling).
The rebound, helped by an increase in auto loans, ended an 11 month streak of shrinking borrowing and reinforced bullish views on consumer spending after retailers posted surprisingly strong sales earlier this week.
Meanwhile, ordinary savers have little choice but to plump for one of the so-called big four banks – Royal Bank of Scotland, Lloyds, Barclays and HSBC – that dominate the sector and have, according to Martin Wheatley, head of new watchdog the Financial Conduct Authority, spent years "viewing consumers simply as sales targets".
(See "The Consumer Spending Illusion").
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