Wednesday, September 1, 2010

Retail data: Americans still cautious in August

From the AP Here
The figures confirm a flurry of anecdotal evidence that retailers will be disappointed by this year's back-to-school season -- a time they see as second only to the winter holidays.
"We are still not seeing a rebound," said Michael McNamara, vice president of research and analysis for SpendingPulse, which includes transactions in all forms including cash.
My question, is this recession spending or this the new baseline.  As income as dropped and unemployment remains high, this might be the new normal. 

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