Friday, September 07, 2007

U.S. consumers spending big time

U.S. consumers go on buying binge:
"'When you look at August, there was a lot of doom and gloom,'said Chris Donnelly, partner in the retail practice at the consulting firm Accenture, referring to news headlines chronicling growing numbers of mortgage defaults and financial market turmoil. 'But consumers were out there spending. ... Back-to-school sales were good.'
Yes, gloom and doom in the media, just not reality. And keeping with the media narrative, roll out the "Yeah but":
Still, Donnelly warns, shoppers could pull back in the year's final months."

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