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Though Consumption Looks Steady, Watch These 4 Trends

Top-line consumption numbers obscure some important changes in spending patterns, says Morningstar's Bob Johnson.

Please note: Bob Johnson is traveling this week. His written column will return next Saturday.

Jeremy Glaser: For Morningstar, I'm Jeremy Glaser. On a year-over-year basis, consumption has been fairly steady, but Morningstar's Bob Johnson thinks that there's four important trends under the surface that investors need to know about.