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Consumer spending needed to help grow economy

Posted On Fri, March 9, 2012

Continued consumer spending is vital if the economic recovery is going to remain on a positive road, according to a report from S&P Capital IQ.

The Lookout Report from S&P Capital IQ's Global Market Intelligence Unit showed that constant growth from disposable income is more important than any other economic aspect if the economy is to continue its positive track.

There is some concern that the economy may be throttled by rising gas prices, but the report disagreed. With rising gasoline prices expected this summer, continued consumer spending may not be adversely affected by the spike.

The only thing that could really cause a problem in the economy is a significant rise in retail prices, which is believed to be unlikely, the report added.

While many Americans may be gaining confidence to spend more, high prices may be a deterrent. Furthermore, the continued high gas prices prevalent across the United States may be difficult to keep up with. In order to save money on the road, it may benefit a person to compare auto insurance rates and find a less expensive option.

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