Consumer Metrics Institute: GDP Report “Does Not Bode Well”
by John Rubino on November 22, 2011
… In short, the BEA reports that growth is poor by historical “recovery” standards and that consumer disposable income is contracting at a significant rate. And other factors in the report (including weakening demand for imported goods and factories lowering inventory levels) indicate that overall levels of commerce are not nearly as good as the headline number might indicate. This is neither a ringing endorsement of an ongoing “recovery” nor a sign that consumers will be the engine of organic growth necessary to sustain one.
Advertisement
