Unemployment

Deloitte: Housing Slump Could Topple Consumer Spending 

Continuing weakness in the U.S. housing market could start to draw back consumer spending, warned a new report from Deloitte Research. A leading index of consumer spending tracked by the company fell this month, a move that Deloitte analysts said could signaling potential problems ahead for the economy. “With initial unemployment claims up in recent weeks, the labor market is showing some early signs of weakening, which could put pressure on consumer spending,” says Carl Steidtmann, chief economist with Deloitte Services LP’s Deloitte Research and author of the monthly index.