Americans kept spending this summer despite their escalating
fears about the slow economic recovery and surging gas prices according to a NY
Post report.
A group of 18 retailers ranging from discounter Target to
club-operator Costco reported monthly sales on Thursday that rose 6 percent —
the industry's best performance since March — according to trade group
International Council of Shopping Centers. The results come as the government
released numbers showing that Americans spent in July at the fastest clip in
five months.
The reports seem to show that what Americans say and do are
two different things: The strong spending results come just two days after a
private research firm said consumer confidence in August fell to its lowest
level since November 2011.
"It shows some resilience among shoppers. Let's face it.
There are a whole series of economic headwinds that they are fighting
against," said Ken Perkins, president of Retail Metrics, a research firm.
"The results show that the consumer isn't dead."
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