If you look into the numbers, Consumer spending was DOWN. I hate to rain on your parade.. but Consumer spending was actually up 2% in the fourth quarter on top of a 2.2% rise in the third.. although you are correct in that most of the 5.7% GDP gain came from inventory restocking.. because inventories were depleted. http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm The recession ended last summer... It may not be until next year before the official board puts it's stamp on that fact... but that is what the data is saying... so far.
|