Americans - whose purchases account for 70 percent of U.S. economic activity - are spending carefully, and they don't expect to improve their income or job prospects any time soon.
"Going forward, there seems to be a lot of uncertainty," said Joe Flannery, president of Weaver's Inc., a 155-year-old department store in Lawrence, Kan.
He, like other retailers, is watching for a ripple effect on general merchandise sales if food prices rise because of the drought later this year and into 2013.
"I think there is uncertainty about the second half of the year," Flannery said. "I think there is some trepidation."
Read it all.
Filed under: * Culture-Watch Psychology * Economics, Politics Economy Consumer/consumer spending Housing/Real Estate Market Labor/Labor Unions/Labor Market Personal Finance The Credit Freeze Crisis of Fall 2008/The Recession of 2007--
Posted July 31, 2012 at 5:40 pm
To comment on this article: Go to Article ViewThe URL for this article is http://www.kendallharmon.net/t19/index.php/t19/article/44188/
© 2013 Kendall S. Harmon. All rights reserved.
For original material from Titusonenine (such as articles and commentary by Dr. Harmon) permission to copy and distribute free of charge is granted, provided this notice, the logo, and the web site address are visible on all copies. For permission for use in for-profit publications, please email KSHarmon[at]mindspring[dot]com
<< Return to Mobile view (headlines)