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Kori Ellis
Consumer Spending Fell in September
A new report issued by the Commerce Department has shown that average consumer spending fell in September for the first time in five months, a development that has been attributed to the ending of the Cash for Clunkers automotive rebate program. This drop in consumer spending matching analyst estimates and follows a 1.4 percent jump in the previous month.
Consumer confidence has taken a hit in recent months because of stagnant wages and growing unemployment, two factors that have raised worries that consumers will cut back spending in the coming months.
Analysts also worry that consumers will grow reliant on government programs, [...]
Post from: EveryJoe
Consumer Electronics Makers Recovering
The consumer electronics industry has been hit especially hard by the recession and slow consumer spending, as electronics are among the first things that many families cut back on when money is tight. However, several consumer electronics companies, including Sony and Panasonic, have posted results that may signal some recovery in the market.
Sony just posted its fourth-consecutive quarterly loss on Friday, a fact that is troublesome on its own. However, the brighter outlook on the global economy and cost-cutting measures have allowed Sony to trim its loss forecast for the year in hopes that the situation will continue to improve.
Panasonic [...]
Post from: EveryJoe
