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Spending still up in US
Calcutta News.Net
Saturday 30th August, 2008
The US Commerce Department reported last week that while personal income in July fell a greater than expected 0.7%, consumer spending was still up a slight 0.2% during the month.
Consumer spending, which remains the biggest growth factor in the economy, has yet to dip.
Some retailers have had more than their share of good news from consumers over the past week.
At the end of the week, shares of luxury retailer Tiffany & Co and the lower-end jewelry chain store company Zale both surged.
Womens' clothing company Talbots and athletic equipment and apparel chain Dick's Sporting Goods also upped their earnings targets.
Personal computer maker Dell also reported better-than-expected quarterly sales on Thursday.
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