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Article: Modest 2nd-half U.S. consumer spending rally seen. (Originated from Knight-Ridder Financial News)
- Article from:
- Knight Ridder/Tribune News Service
- Article date:
- August 15, 1994
- Author:
CopyrightCOPYRIGHT 1994 Knight-Ridder/Tribune News Service. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WASHINGTON _ U.S. consumer spending should rebound modestly in the last half of 1994 after a second-quarter lull, supported mostly by strong economic fundamentals, economists said Monday.
``The outlook is better, consumer confidence is higher, incomes are higher, (and) employment prospects are better'' than they were last year, said Donald Fine, chief analyst at Chase Securities.
However, spending won't reached the overheated pace of the last half of 1993, economists said.
``Consumers have caught up some with pent-up demand on big ticket items and likely will cut back the pace of spending in those areas compared with ... the second half of last year,'' when ...