Consumer Spending is Rising Big Increase in Luxury Spending

Most Americans consumers had cut down on spending during recession, but there are clear signs that people are coming out of their shell now and are willing to spend more.

There are many signs of economic recovery as the job market is picking up, industrial output is increasing and retail sales are going up. And the icing on the cake is that consumers are no longer restricting their spending to necessities like food and medical expenses. They are spending on clothes, jewelry, holidays and cars. [Read more…]

Positive Sign for Consumer Spending as Home Equity Loans Set to Rise

Home equity loans, which accounted for almost 2% of all consumer spending in 2001-2005 are all set to rise again. This could be good news for the overall economy as it will give a boost to consumer spending, which further triggers business activity and GDP growth. Home equity lending activity had seen a dip during 2008 and 2009 as house prices fell continuously. [Read more…]