Quote:
The increase in consumer spending reflected increases in both services and goods. Within services, the leading contributors were housing and utilities, health care, financial services and insurance, and food services and accommodations. Within goods, the leading contributors to the increase were other nondurable goods (led by prescription drugs) as well as recreational goods and vehicles
Great news guys. Taxpayers got to spend more on housing, utilities, health care, credit card debt, food and medication. Basically, people are paying for bare necessities with their credit cards at record high interest rates.