Luxury category lifts consumer spending

10/27/2010 | USA Today

While overall consumer spending climbed 1.4% over the first three quarters of 2010, the uptick was largely due to a rise in luxury spending, as sales of TVs, jewelry, recreational vehicles and other categories lumped under the "luxury" category rose while spending on education, health care and day care is in decline. "The rising tide isn't lifting all boats," said Carl Steidtmann, chief economist at Deloitte.

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