Consumer spending is threatening to stall out while consumer confidence, battered by soaring energy costs and falling home prices, has taken a steep nosedive.
Analysts said the two new reports Friday were just the latest danger signals that the country was edging perilously close to a recession.
The Commerce Department reported that spending posted a 0.4 percent rise in January, better than economists had been expecting. However, all of that gain came from a surge in inflation during the month.
Taking away the effect of rising prices, spending showed no gain in January, the second straight month that real spending failed to advance. Click the following link for full story:
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