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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: ild who wrote (136025)11/28/2001 2:06:14 PM
From: ild  Read Replies (1) of 436258
 
Fed Beige Book: consumer spending weak By Rachel Koning
Despite the small bounce sparked largely by zero-interest car purchases, consumer spending for much of the country remained at or below pre-Sept. 11 levels, the Fed said in its Beige Book report on the economy. The report, issued eight times a year, supplies anecdotal evidence of business conditions in each of the Fed's 12 districts. "Tourism remained weak and non-auto sales were spotty, with stronger sales growth in some areas offset by weaker sales elsewhere," the group said. "Store managers had already begun discounting prices in some areas to counteract weak customer traffic, while in other areas retailers' expectations for the season had brightened recently." Discount retailers saw the most traffic, with Americans drawn by value; spending on luxury goods fell as traffic at specialty and department stores slowed. Merchandise buyers have mixed expectations for the holiday shopping season, the Fed said.
cbs.marketwatch.com
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