Consumer Spending Expected to Pick Up in Coming Months
According to a new report by CNBC, economists on Wall Street and at the Federal Reserve tend to agree that consumer spending is likely to increase at a more rapid pace in the coming months.
As reporter Michael K. Farr pointed out, “This expectation is based upon several factors, but the two most commonly cited are the improvements in the labor market and the drop in energy prices.”
If the experts are correct, then retailers should begin benefitting from the phenomenon any day now, with stores like Wal-Mart, Target and dollar stores likely to see the earliest signs of spending.
Image via flickr/401(K) 2012