US consumer spending falls for the first time in a year
31 May 2013
This article comes from BBC News. Author is unknown.
Summary
:US consumers spending continues to fall from April to June. According to the Department of Commerce, it claimed that consumers' spending decreased about 0.2%. Demand for utilities and luxurious items definitely declined. Also less money being spent on petrol due to the fact that the price of oil continued to decrease. Likewise, through the prices of petrol declined rapidly in March and April. consumers did not spend much money to purchase fuel at stations. Furthermore, an increase in social security payments reduced the worker's payments. Unfortunately, each individual household income does not change at all. However, US economists assume that their economy will be stable and increase if more than 165,000 jobs are going to create in the future.
My Opinion
:From my point of view, I think that the spending of consumers all over the world continues to decrease nowadays. Not only US consumers have been struggling with economic crisis, many other nations consumers are trying to escape from unemployment and increased prices. I think that US government should regulate those economical problems to give numerous opportunities to its people or consumers. The government should create more jobs and increase GDP rate gradually.
How does it relate to economics?
:As the United State of America is a developed nation, the government should stabilize its economic circumstances and create more jobs to balance each individual household income rate. US really needs higher GDP rate and create more jobs. Then, more people are able to have economical benefits. However, there are many ways that US recover its broken economy.
:US consumers spending continues to fall from April to June. According to the Department of Commerce, it claimed that consumers' spending decreased about 0.2%. Demand for utilities and luxurious items definitely declined. Also less money being spent on petrol due to the fact that the price of oil continued to decrease. Likewise, through the prices of petrol declined rapidly in March and April. consumers did not spend much money to purchase fuel at stations. Furthermore, an increase in social security payments reduced the worker's payments. Unfortunately, each individual household income does not change at all. However, US economists assume that their economy will be stable and increase if more than 165,000 jobs are going to create in the future.
My Opinion
:From my point of view, I think that the spending of consumers all over the world continues to decrease nowadays. Not only US consumers have been struggling with economic crisis, many other nations consumers are trying to escape from unemployment and increased prices. I think that US government should regulate those economical problems to give numerous opportunities to its people or consumers. The government should create more jobs and increase GDP rate gradually.
How does it relate to economics?
:As the United State of America is a developed nation, the government should stabilize its economic circumstances and create more jobs to balance each individual household income rate. US really needs higher GDP rate and create more jobs. Then, more people are able to have economical benefits. However, there are many ways that US recover its broken economy.
I am afraid that the price of things in US will be super high when I get there.
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