We did see some
real strong numbers towards the end of
last year,
consumer spending was growing at around a half a percent each month, which was very strong.
The poor
consumer spending in Q1 could be a harbinger of more economic weakness, not only because the
consumer is almost 70 % of the U.S. economy, but because average
real personal consumption expenditures grew at a faster rate than
real GDP over the
last three years, 2.9 % to 2.2 %.