“Cracks Visible In U.S. Consumer Facade”

Given their recent performances, U.S. consumers aren’t going to win gold.

Tuesday’s data didn’t possess the “free-fall” feeling of some recent factory reports, but they do suggest consumers are both skittish and stingy. Given that household spending accounts for about two-thirds of demand in the U.S. economy, the outlook is dimming for growth in at least the third quarter and possibly the fourth as well.

Consumers need both cash and confidence to lift spending.

Read more at: blogs.wsj.com