Analysts See Higher Consumer Spending Soon

 

New York, NY, Oct. 25, 2010 -- Analysts are predicting that the American consumer is about to start shopping again and will lift the economy, according to a story by Bloomberg News.

Bloomberg said that economists lifted estimates for consumer purchases in the third quarter after retail sales climbed more than forecast in September.

In addition, it said that RBS Securities Inc. predicts sales will rise 3% and Morgan Stanley is predicting an increase of 2.6%.

"While it is still a moderate recovery, the speed is going to be stronger than many people think," said Dean Maki, chief U.S. economist at Barclays Capital.

 


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