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Archive Home > 2008 > October > 31 > Consumer spending dip ‘is a major about-face’

Consumer spending dip ‘is a major about-face’

GDP also down; calls for stimulus grow louder

By Neil Irwin and Lori Montgomery / The Bulletin
October 31, 2008

WASHINGTON — Through recession, countless natural disasters and a major terrorist attack, there has been one constant in the U.S. economy: American consumers have bought more stuff in any given quarter than they did in the previous one.

Not anymore. Personal consumption expenditures....

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Published daily in Bend, Oregon, by Western Communications, Inc. Copyright 2007.