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Article: PURCHASING HOTLINE.(Brief Article)

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Purchasing
Article date:
April 20, 2000
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ECONOMY

All evidence points to strong consumer spending in first quarter 2000. Monthly data for real (inflation-adjusted) consumer spending show growth from fourth quarter 1999 when consumers upped spending at an annual rate of 5.9%. As consumer spending makes up two-thirds of GDP, this bodes for a big first-quarter economic growth figure. Confirming this view, anecdotal reports from Market News Service (MNS) show strong recent activity at both retail stores and auto dealerships. "Retailers say higher gasoline prices and interest rates are having no discernable impact on people's spending habits," MNS reports. Meantime, MNS says auto dealers report "another ...

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