As Productivity Improves, Gain Includes Pain

by Vince Kellen

The business sector is continually watching consumer-spending statistics -- and for good reason.

While measures of consumer confidence are on the rise in the US, indicating a positive change, this hasn't completely translated into an appropriate change in business spending. Economists appear to be waiting to see how much of the rise in consumer spending is related to the Cash for Clunkers program and to the massive injection of cash into the system over the last few months versus how much of it can be sustained. Meanwhile, though the home mortgage industry and related sectors get all the attention, the commercial real estate sector still has more bad news ahead of it. Corporate borrowing got out of control, too. Clearly, the consumer, both here and abroad, will have to lead the US to continued growth.

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As Productivity Improves, Gain Includes Pain3 February 2010