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Household and business deleveraging to slow consumer spending

Economic conditions are improving faster than anticipated for businesses and households. But deleveraging by businesses and households is expected to slow nonresidential investment and consumer spending during 2010. During fourth quarter 2009, households continued to rebuild their financial portfolios, posting the third consecutive quarter of increase in household net worth. After losing $13.1 billion during 2008, households… Continue Reading Household and business deleveraging to slow consumer spending

Personal income growing, but not from wages

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The economy is starting to thaw for workers and consumers. For the seventh consecutive month, personal income is expected to rise, according to BBVA Compass Bank’s Economic Research Department. However, the growth is being driven by government transfers and proprietors’ income rather than by wages. And while employee compensation is no longer declining, the weak labor market… Continue Reading Personal income growing, but not from wages

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BBVA: Economic recovery slow and long

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Economists with BBVA Economic Research say the U.S. economic recovery process will be characterized by a slow expansion rate over a prolonged period of time, although the nation will still fare better than other developed countries. Regionally, several challenges will result in below-average economic growth rates compared to previous expansion cycles. Fiscal pressures from reduced tax… Continue Reading BBVA: Economic recovery slow and long

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