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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....

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