This is curious to me, consumer spending above the peak in November 2007?
It is an estimate so if it is anything like estimates I have relied on for decision making it is garbage. And how much was artificial due to programs to increase consumer spending?
I certainly have been spending like crazy because of home renovations.
I also wonder how much of the consumer spending is because of people living in homes where they aren't paying rent or mortgage. How much of the economy has moved from the home equity ATM to the squatting ATM?