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IPFS News Link • Economy - Economics USA

This Is What Americans Spent The Most Money On In The First Quarter

• http://www.zerohedge.com, Tyler Durden

But that doesn't mean that Americans stopped spending completely, quite the contrary. According to the BEA's "goalseeked" models, even as retail sales tumbled, as Obamacare continued to drain disposable income away from other discretionary purchases, Americans - who spent far less on cars, clothing and housing in the first quarter than in Q4 - were scrambling to buy... recreational vehicles!?

Incidentally, this won't be the first time Americans splurged on RVs. The last time they did this? Exactly one year ago.

To be sure, the ongoing surge in RV purchases sure would explain why the housing recovery, overdue by about 5 years, still fails to materialize.

And another observation: if it wasn't for spending on RVs, consumption would have posted its first contraction since the financial crisis.


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