Saturday, May 01, 2004

I figured it was only a matter of time before Reuters caught up with the General.
Consumer spending, which has been a major prop for the stock market's gains, may fade in coming months, raising questions about where the economy and stocks will draw future strength. . . .

Consumer spending, which accounts for 70 percent of U.S. economic activity, has benefited from fiscal stimulus like tax cuts and from easy credit engineered by the Federal Reserve (news - web sites), but these stimulants have pretty much run their course, analysts said.


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