Consumers slow down spending

Consumers slow down spending

Americans slowed down their spending after wrapping up back-to-school buying.

Still, analysts say spending was fairly strong for the month. That is an encouraging sign for retailers as they're preparing for the upcoming winter holiday season, which traditionally the busiest shopping period of the year.

"This should set up to be a good holiday season," said Ken Perkins, president of Retail Metrics LLC, a research firm. "Consumers needed to take a breather once the back-to-school season is over."


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