U.S. Economy: Spending Slows, Confidence Weakens
Posted on March 28, 2008
Filed Under Business |
Spending by American consumers, the sustainability of the economy housing, in the midst of the worst recession in a generation, rose in February on the slow pace of more than one year.
The purchase of 0.1 percent to 0.4 percent in January followed a gain, the Commerce Department in Washington, said today, matching economists’ projections. The report also showed that the Federal Reserve has been the most measure of inflation to cool the atmosphere. In the meantime, the Reuters / University of Michigan Sentiment index of consumer prices fell to a low of 16 years.
Falling prices at home, the loss of jobs and rising oil prices are the engine down consumer spending, which account for more than two-thirds of the economy. Like the figures were in Washington, JC Penney Co., US, the third largest in the department store chain, cut its turnover and the result of improved forecasts.
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