See Local News
Get Balanced News From Your U.S. State.
See Local News
See all locals

Falling gas prices fuel consumer spending

Posted on AllSides November 9th, 2014
From The Left

Falling gas prices are boosting consumer spending, economists say, heralding a pickup in holiday sales and economic growth.

Average regular unleaded prices have plunged to $2.99 a gallon from $3.70 in late June, dipping below $3 for the first time since 2010 as a weak overseas economy and U.S. energy boom lower oil prices.

A drop in pump prices effectively serves as a tax cut, with consumers using much of the savings on other purchases that cycle back into the economy.

Until recently, cheaper gas wasn't reflected in spending data....

Read full story
Some content from this outlet may be limited or behind a paywall.

AllSides Picks

http://www.usatoday.com/story/money/business/2014/11/09/gas-prices-boost-consumer-spending/18663989/

More News about Economy and Jobs from the Left, Center and Right

From the Left

From the Center

From the Right