RECESSION ALERT: CONSUMER SPENDING TANKED IN SEPTEMBER

October 20, 2019 in News by RBN Staff

 

 

 

 

 

 

 

 

 

source: www.shtfplan.com
by Mac Slavo

Sales of retail goods and food services dropped 0.3 percent last month as consumers tightened their belts. Lower rates of consumer spending will often precede an economic recession.

It was bound to happen. After all, the consumer cannot prop up the economy forever. Although it was recently reported that consumer sentiment was high even when business sentiment is low, spending in the month of September dropped.

In spite of the trade war and tariffs driving up prices, the latest evidence that the American consumer is unaware that a recession could be on the way is the University of Michigan’s consumer sentiment survey released Friday. Consumer sentiment rose to a three-month high of 96, beating consensus expectations and remaining near record levels. Even as economic growth abates and business investment and confidence have faltered in the face of an ongoing United States-China trade dispute, the U.S. consumer has continued to spend money and reflect confidence in sentiment surveys. –SHTFplan

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