Stunned U.S. Consumers Reign In Spending
October 6th, 2008
Frugal all year, U.S. consumers appear to be pulling back sharply on consumer spending in recent weeks, as the financial crisis has deepened. Economists are now predicting that spending shrank in the quarter just ended, which, if true, would be the first quarterly decline in almost twenty years. The New York Times (Oct. 5, 2008)
Tags: consumer spending, economy, financial crisis