You are here

Americans' spending seen as solid through latest overseas turmoil

Robust hiring, pick-up in wages, record wealth, low borrowing costs, smaller debt burdens fuel household spending
Thursday, July 7, 2016 - 05:50
BT_20160707_KVSPEND7_2373104.jpg
Household spending, which accounts for about 70% of the economy, is rebounding after a soft start to 2016, and economists say that it will show sustained growth in the second half of the year.

Washington

THE famed American consumer stands between Brexit and a pronounced slowdown in US economic growth. Thank goodness.

Households have plenty of wind at their backs to sail through the shock waves from Britain's vote to leave the European Union. Robust hiring, a nascent pick