Consumer spending drop raises new fears
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Consumer spending, the critical bulwark that has kept the country out of a recession, is showing signs of cracking. Retail sales plunged by 0.4 percent last month as consumers battered by a sinking housing market, rising unemployment and the credit crunch, handed retailers their worst Christmas in five years.
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WASHINGTON -- Consumers battered by weak income growth and rising inflation cut their spending in August. But analysts said a consumer confidence rebound in September should limit damage to the economy.
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Retail sales in June posted their biggest drop in nearly two years, according to government data on Friday, indicating the housing slump and soaring gasoline costs are depressing consumer spending.
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Figures show Christmas credit card spending fell, as debit card use increased.
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German retail sales took an unexpected tumble in November, denting hopes for a noticeable pick-up in consumer spending in the eurozone's biggest economy, where chronically weak domestic demand remains the main ...
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The economy struggled under an increasing trade deficit and a slowdown in consumer spending, the Commerce Department said today.
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Consumers, battered by harsh economic crosswinds, spent less in December than at any time in the past 15 months while applications for unemployment benefits soared last week, two more signs the economy is weakening.
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Consumers are feeling the pinch after five interest rate rises in less than a year, with a slowdown in the rampant housing market, ebbing consumer morale and a drop in retail sales, data show.
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The abrupt pullback in spending raises the possibility that the country may be experiencing a rare decline in personal consumption.
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Concerns about a spending slowdown continue to make IT investors nervous.
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Treasury prices fell Wednesday after a new retail sales report showed an unexpected increase in consumer spending for January after the dismal holiday season.
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NEW YORK -- American shoppers took a breather last month as the worst housing recession in 16 years eroded demand for building materials, appliances, and furniture.
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US retail sales fell unexpectedly in June as American consumers cut back their spending amid a persistent housing slump and higher gasoline costs, a government survey showed Friday.
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A steep consumer confidence slide released Friday would hobble the overall economy.
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British retailers have suffered their worst Christmas in 10 years. Were you cautious with your spending over the festive season?
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Reports of the death of the consumer economy appeared unfounded yesterday after official figures revealed a sharp rise in high street spending last month.
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WASHINGTON - Shoppers turned a bit tightfisted in August, dropping sales at the nation's retailers by 0.3 percent, providing fresh evidence of an erratic pace of consumer spending in recent months.    The decline in sales reported by the Commerce Department on Tuesday came after shoppers pushed sales up by a solid 0.8 percent in July as consumers' willingness to spend revived after a June lull...