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Except at Gas Pump, Not Much Spending Going On

Posted on April 19, 2008

Today's chart porn is courtesy of the NYT's Floyd Norris: AMERICANS are cutting back on purchases of things they do not have to have, sending retail sales down sharply at many types of stores.Those cutbacks, which now seem to be worse than at any time since the 1990-91 recession, are helping to slow the economy and to spur calls in Washington for more fiscal stimulus even before the government starts to send out money to most taxpayers next month.Those checks could provide at least a temporary stimulus, but until they arrive, the slowdown in spending appears to be nationwide.In its beige book ...

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beige book , economy , fed , federal reserve , gas , the fed