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Mixed Signals on Consumer Spending

Despite economic uncertainty, higher-end consumers appear to be opening their wallets wider.

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This week's disappointing jobs numbers underscored just how challenging the employment market is right now. It's hard to find a job, and without work consumers are not spending like they have in the past.

This was apparent in corporate earnings that were announced this week. Consumer goods companies such as  Procter & Gamble (PG) and  Kraft (KFT) reported that more basic products continue to be in vogue and there was hesitance to plunk down for premium products.

Jeremy Glaser does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.