Posted AT 9:51 AM EDT on 28/03/08
Recession fears grow in U.S. as consumer spending slows
WASHINGTON — U.S. consumers, jolted by a credit crisis, job cuts and soaring energy costs, turned in the weakest spending performance in 17 months in February, further evidence that the risks of a recession are increasing.
The U.S. Commerce Department said Friday consumer spending edged up by just 0.1 per cent last month, the poorest showing since September 2006.
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