Tuesday, October 29

High end donor shake off economic headwinds

| By James R. Hagerty and Ben Casselman, Wall Street Journal

Weak unemployment data and gridlock in Washington are not well-heeled consumers, slowed down, continue to open their wallets for big-ticket items.

Despite persistently weak labor market data and gridlock in Washington are signs of confidence consumers surprisingly and open their wallets to buy expensive speedboats of washing machines.

US shipments of appliances continues to grow double profit in the third quarter at whirlpool (WHR) as stronger, US real estate market sales offset weakness in many parts of the world to help. North America's largest manufacturer enhances also the full year earnings forecast.

'' We feel good about the fourth quarter"prospects for the US unit sales, Jeff greasy, Managing Director of hot tubs, said in an interview. Wholesale deliveries of the so-called big six appliance categories - washing machines, dryer, dishwasher, refrigerators and freezing equipment and areas as well as furnaces - grew by 6.3 percent compared to the year earlier, reported million units to 4 according to the Association of home appliance manufacturers Tuesday.

Earnings and forecasts are also at other companies, the more expensive and extravagant consumer. Motorcycle manufacturer Harley-Davidson (hog) and Polaris of industries (PII) which products include ATVs, Tuesday reported sharp increases profit and sales in the third quarter. You against Winnebago Industries(WGO) a manufacturer of caravans, trailers and other recreational vehicles, strong quarterly figures last week booked.

"Make the nerds and geeks tons of money," said Allen Sinai, Chief Economist at decision economics, a research firm in Boston, even as the typical American is suffering from stagnant wages and worries about layoffs. The latest employment data, released by the Labor Department Tuesday, little comfort about the health of the entire labour market as employers offered a less than expected 148,000 jobs in September added. And many consumers remain cautious.

But employees many high-tech and energy companies, as some farmers have done very well. A rising stock market and restore real estate prices have helped to encourage rich Americans.

Actually, the richest Americans, who crashed a major hit during the recession, was taking as stocks and homes value replacement, have seen a far stronger recovery than their less affluent neighbors.

The average household in the top 20 percent of wage earners has its earnings seen rise more than 6 percent since 2008 after adjusting for inflation, according to the Census Bureau; among the top 5 percent, the increase has been nearly 8 per cent. Households in the middle of income distribution only 2 percent to win, have returned, on average while incomes for the poorest Americans to its prerecession peak did not.

Nevertheless, the average American household spent $51.442 in 2012, surpassed its prerecession peak for the first time, the Ministry of labour has in the past month.

"You have a House and a stock portfolio, better looking things", said Craig Kennison, analyst at Robert W. Baird & co.

That has translated into Splurges. The hottest part of the market said in high pontoons will cost less than $100,000, Jared Lacefield, a boat manufacturer representatives in Clovis, California he said that some of the most eager buyers of tech workers and nut growers. "Can the quantity per hectare, when pistachio is crazy", he said.

The automakers did best on high end. Luxury cars in the first nine months 2013 sales up 12 percent over the previous year. In contrast to the sales of cheap small cars, like the Chevrolet Sonic, Ford rose Fiesta and Toyota Yaris, only 6.1 percent for the same period, according to data compiled by Autodata.

In September, about 60 per cent of 45.944 pickups were by General Motors (GM) sold higher end models with leather seats, electronic features and higher quality audio systems considered. "In any case, that are automakers Detroit all see people give more money for features even if they decide to buy an entry-level vehicle," said GM spokesman Jim Cain.

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