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Article: Retail sales increase, even as consumers seem pessimistic.
- Article from:
- Chicago Tribune (Chicago, IL)
- Article date:
- September 13, 2002
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Byline: Robert Manor and Thom Khanje
Three economic reports released Wednesday portray consumers as increasingly pessimistic, even as the economy appears to be reviving a bit.
Consumer sentiment declined for the fourth consecutive month in early September, according to the University of Michigan's preliminary index for the month. Consumer spending is vital to the nation's economy, accounting for about two-thirds of all economic activity.
But the Labor Department said the producer price index, which measures inflation at the wholesale level, showed no change in August. If the trend continues, it means inflation is utterly dormant.
And ...