Can US consumers hold up the world economy?

“We may have a hint of what lies ahead from the advanced retail sales data which dipped significantly instead of continuing to rise month-on-month, ’’ said Inter-Pacific Securities head of research Pong Teng Siew.(pic)

Much has been touted lately on the strength of the US consumer but for how long can this so-called last leg of the economy hold up and buffer the world economy?

As manufacturing and investment are showing declines, much hope is placed on the strength of US consumption which makes up 70% of the economy, but is showing signs of a possible cooling off.