Whither “Pent-Up Demand?”
TAPPED OUT AMERICAN CONSUMERS NOT “WARMING” TO 2014
The U.S. economy’s sluggish start to 2014 was all the weather’s fault … or so the command economists running this country into the ground told us ad nauseam. Once things warmed up, they assured us, American consumers would unleash their “pent-up demand” onto the marketplace.
Well guess what … that “pent-up demand” isn’t materializing.
According to data published this week by Gallup, “the amount Americans reported spending each day in March averaged $87 for the month, identical to February.”
“While spending remains relatively high, this is the first time since the recession that consumers’ average daily March spending didn’t increase at least slightly over February spending,” Gallups researchers’ noted. “Consumers’ March spending was also no higher than their spending a year ago.”
Here are the Gallup charts, with some directional “commentary” from the website Zero Hedge.