(Smart Money) — So much for the new era of frugality. Consumers opted to save more money in the middle of the Great Recession, but during the past few months, they’ve started to reopen their wallets, albeit slowly, to buy clothing, Caribbean cruises and nearly everything in between. “People who have a job are spending,” says Robin Diedrich, senior consumer-discretionary analyst for Edward Jones. And while some consumer-related stocks have soared from their lows, a number of pros say there’s still an opportunity for investors to take advantage of consumers’ refound love of spending a buck.
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