RobertB
September 14th, 2007, 06:28 PM
U.S. Consumers Tread Fearfully
Andrew Farrell, 09.14.07, 12:05 PM ET
U.S. Consumers Tighten Purse Strings
Consumers, who keep the American economy humming, are hurting. Economic data released Friday showed that beleaguered Americans were losing confidence and hitting the shops less.
Consumer spending during the back-to-school season fell short of expectations. The Commerce Department announced that U.S. retail sales rose by 0.3% in August. Economists were expecting sales to rise by 0.5%. Stripping out automobiles, sales were even softer, declining 0.4%.
The weak sales come as consumers grow increasingly concerned about the economy. Consumer confidence is at its lowest point since mid-2006 according to RBC Financial Group.
http://www.forbes.com/home/markets/2007/09/14/consumer-data-update-markets-econ-cx_af_0914markets17.html
Andrew Farrell, 09.14.07, 12:05 PM ET
U.S. Consumers Tighten Purse Strings
Consumers, who keep the American economy humming, are hurting. Economic data released Friday showed that beleaguered Americans were losing confidence and hitting the shops less.
Consumer spending during the back-to-school season fell short of expectations. The Commerce Department announced that U.S. retail sales rose by 0.3% in August. Economists were expecting sales to rise by 0.5%. Stripping out automobiles, sales were even softer, declining 0.4%.
The weak sales come as consumers grow increasingly concerned about the economy. Consumer confidence is at its lowest point since mid-2006 according to RBC Financial Group.
http://www.forbes.com/home/markets/2007/09/14/consumer-data-update-markets-econ-cx_af_0914markets17.html