Consumers Not So Tightfisted After All
Goods consumption data this week hardly suggest the gun-shy consumer that the media is portraying.
Note: Since many markets will be open after we conclude our writing, we are dispensing with our normal opening market commentary.
The U.S. economic news this week was another mixed bag. Consumption data, especially on a deflation-adjusted basis, looked great, particularly for the goods-only category, which showed a 1% monthly increase. However, the larger services sector couldn't manage any growth at all, with poor utility usage and a temporary dip in healthcare growth hitting the November statistics.
Robert Johnson, CFA does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.