David Smith: Economic outlook
Will we be spenders or savers? It is a big question for the economy. Without a rise in consumer spending it is hard to get economic growth. It is also a big question for retailers and other businesses relying on consumer demand.
The evidence on what has been happening so far is mixed. Official figures suggest that retail spending has held up better than many other parts of the economy, with a 2.1% rise in sales volume last month compared with a year earlier.
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