Thanks, Old Man Winter. Consumers have already been in a sour mood, and you're not helping matters. Icy roads and bitter winds have left many people to stay at home -- and keep their cash in their pocket.
For companies that have been looking for signs that retail spending is finally ready to grow, this roadblock has been unwelcome. The bleak winter likely explains why retail spending on goods and services like cars, restaurants and gas stations slipped 0.4% in January on a seasonally adjusted basis, according to the National Retail Federation.
Yet before you conclude that the era of robust consumer spending will never return, consider an interesting stat offered up by J.P. Morgan: In just the past two years, consumers' net worth has expanded by $13 trillion. Continue reading "Are We On The Brink Of A Retail Spending Boom?"