WALL STREET JOURNAL: … “The problem with this type of behavior is that it is unsustainable,” economist Eugenio Aleman of Wells Fargo said.
Spending rose by 0.5% in August — the fastest rate since February — and marked the second straight sharp gain, according to Commerce Department data released Friday. Spending is watched closely because it accounts for more than two-thirds of U.S. economic growth.
Yet not all spending is of equal benefit to the economy. Other reports on consumption in August suggest a big portion of consumer outlays went to pay for higher gasoline costs. Gas stations reported the biggest rise in sales last month in nearly three years… (more)
