Morici: Expect Poor Growth as ‘Americans Don’t Spend Money in the Winter’

Peter Morici, economist at the University of Maryland, warned Newsmax TV not to expect robust first-quarter economic growth.

“Americans don’t spend a lot of money in the winter anymore,” he told America Talks Live.

“Instead they have fun during the Christmas season, the holiday season to be politically correct, and then they pay off their credit card debts in January, February and March,” he told host Bill Tucker.

“No matter how you slice it, they’re not spending a lot of money. We have to wait and see what spring is like as to whether the economy improves over last year,” said Morici, who is also a Newsmax Finance Insider.

Tune in to Newsmax TV beginning at 12 PM ET to see “America Talks Live” — on FiOS 615, YouTube Livestream, Newsmax TV App from any smartphone, NewsmaxTV.com, Roku, Amazon Fire — More Systems Here

However, official overall first-quarter growth estimates are not

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