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Caterpillar Inc. Message Board

  • kohighbloodpressure kohighbloodpressure May 27, 2011 10:24 AM Flag

    Pending home sales down > 11% and

    the "EXPERTS" who you listen to EXPEC TED 2% DROP !

    And spending collapsing...

    Not that they t ell you in the headlines !
    "When adjusted for inflation, spend ing nudged up 0.1 percent last month after gaining 0.1 percent in March.
    "This shows that the trend going in the secon d quarter is weaker than what people had thought. This promo tes caution about projecting faster growth in the second quarter," said Pierre Ellis, a senior global economist at Decision Economics in New York.
    "



    WASHINGTON (Reuters) - Consu mer spending rose modestly in April, starting the second quarter on a soft note as high gasoline prices continued to squeeze household finances and keep inflation pressures simmering.

    The Commerce Department said on Friday consumer spending inc reased 0.4 percent, rising for a 10th straight month, after a 0.5 percent gain in March. It also said annual inflation rose at its fastest pace in 12 months.

    Econom ists polled by Reuters had expected spending, which accounts for about 70 percent of U.S. economic activity, to rise 0.5 perce nt last month.

    When adjusted for inflation, spending nudged up 0.1 percent last month after gaining 0.1 percent in March.

    "This shows that the trend going in the second quarter is wea ker than what people had thought. This promotes caution about project ing faster g rowth in the se cond quarter," said Pierre Ellis, a senior global economist at Decision Economics in New York.

    Consumer sp ending rose at a 2.2 percent ann ual rate in the first quarter, braking sharp ly from a 4 percent pace in the October-Decem ber period. That contributed to holding back growth to a 1.8 percent pace dur ing the quarter.

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