17 Sep 2004 Despite Much, Economy Continues Growth
Posted at 16:01h in The Friday BriefThe slow-down of the second quarter appears to be behind us. Retail sales, excluding autos, rose for the fourth month in August. Consumers remain cautious largely due to oil prices, but they continue to spend nevertheless. Same-store retail sales were up 1% in September. Consumer spending, which represents two thirds of the economy, rose at a 1.6% rate during the second quarter. The consumer should remain healthy as the acceleration of job growth numbers will continue to improve income and confidence.