WASHINGTON (Reuters) – Consumers facing rising unemployment kept their spending unchanged in August even though incomes rose, according to a government report Monday that showed optimism about the economy’s direction was fading.
This sort of gross exaggeration in news reporting is ridiculous. In fact, consumer spending for August matched that for July. It just didn’t increase. Can writers and editors just knock off the attention-grabbing hyperbole and accurately report what is happening?
To indicate that consumers stopped spending in August when the article states “consumer spending was flat in August after barely edging up by a revised 0.1 percent. . .” plays into the fear mongering about the economy the media and congress are perpetuating.
This was not a good headline, as several readers noticed. Consumers did not stop spending, they just did not increase the amount they spent: GBU Editor
REUTERS photo by Brendan McDermid