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September 27, 2012

US Consumer Spending: Not Strong Enough to Lead to Economic Recovery

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The United States' economy, the largest in terms of total GDP measures by purchasing power parity, suffered an economic recession during 2008-2009 like much of the world. However, consumer spending in the US has not been robust enough for a strong recovery. Consumers do not have the resources to spend, even with low interest rates, economic bailouts, and tax cuts. However, consumers spent more in July 2012 than previous months, leading to a hopeful yet reserved outlook for the rest of the year.

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