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Week In Business Dip In Consumer Buying Expected
New York AP reports consumer buying, a key economic driver, is expected to slacken in coming months despite surveys showing plans for auto purchases. Economists cite mixed sentiment, rising unemployment, and reliance on disposable income. Auto sales may temper as imports affect inventories and auto makers retool. June auto sales hit a record, while wholesale prices fell and unemployment rose to 7.1 percent in June. Postal rate hikes proposed by Postmaster Bailor accompany mixed business signals.
MENTIONED IN THIS ARTICLE
New York
Conrence Board
Butmore
University of Michigan
Dudley Johnson
Citibank
Chase Econometric Associates
Federal Reserve
Auto Industry
Sears, Roebuck & Co
Labor Department
May
Benjamin F. Bailor