US consumers continue to spend

This is an article from financial times which tells that the average consumption in US has not stalled and strong sales figures showed consumers maintained spending habits throughout the third quarter and financial market crisis, albeit at a tepid pace.

This will certainly release the pressure from Fed to further cut the interest rates. This is also an indication that the investor confidence may not be affected in long run given that the major losses of sub-prime crisis are limited to the big investment banks in US.