From Marketwatch:
Americans love to shop, and their spending accounts for 70% of the U.S. economy. You wouldn’t know it for all the focus on China, but U.S. growth still has a huge impact on global growth.
And guess what. The U.S. consumer is just fine, thank you, in a stronger position than ever since the financial meltdown. And they’re ready to show it during the upcoming holiday shopping season. I know, this can’t possibly be true, given all the negativity.