Economy: Consumers Not Buying

American consumers still aren't in a "buying mood." PHOTO: US Navy

The Commerce Department is touting an uptick in spending -- but the American consumer is most decidedly not in a buying mood.

In contrast to the end of previous recessions -- this one is technically over, though fears of a double-dip persist -- consumers do not believe they will make more money next year, according to surveys conducted by the University of Michigan.

The Commerce Department reports that consumer spending ticked up by .08 percent last month as some Americans purchased cars. However, the savings rate fell as they had to go into their savings to do it.

The Washington Post has an interesting take on the gloomy mood of the American consumer.