Economists: Consumer spending won't rescue U.S. economy

09/29/2011 | CNBC

Consumer spending fell 2.8% in 2009 and 2% last year, according to Labor Department figures, and the trend isn't likely to reverse itself soon, economists say. Consumer demand, which comprises about 70% of the U.S. economy, is in a holding pattern as households work to get out of debt and rebuild their savings.

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