76.4 F
San Fernando
Tuesday, Sep 26, 2023

Consumer outlook bleak

NEW YORK – Not since George H.W. Bush ran the White House have consumers felt so downbeat about the economy. And the catalyst for much of the gloom – the housing slump – shows no signs of abating, new data showed. With Americans losing sleep over rising inflation and tight credit, the housing market is unlikely to rebound soon, spelling more pain for the economy. “The consumer has no more money to spend,” said Dan Alpert, managing director at the investment bank Westwood Capital. “The only way the economy is not going to recede is if someone cooks the books.” For the full story visit http://www.dailynews.com/ci_9396485

Featured Articles

Related Articles