Consumers may be the only thing stopping the U.S. economy from slipping back into recession.
Perhaps the only bright spot in the latest gross domestic product data, which showed that the economy grew at much weaker than expected 1.2 percent annualized rate between April and June, is that Americans kept spending. Negatives included a decline in inventories and a drop in housing and business investment.
Indeed, the U.S. is on pace to grow at its weakest rate since 2010.
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