Propelled by the wildly popular " cash for clunkers", consumer spending shot up in August by the largest amount in nealry eigth years.
A gain of 1.1% was expected according to the Commence Department. The gain was somewhat surprising considering that incomes only rose 0.2 %. The big jump in consumer spending, which accounts for 70% of total economic activity is a good indication that the economy is returning to positive growth this summer.
What do you think the Commerence Deptatment's report will be for September 2009?
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