finance.yahoo.com

Goldman Sachs economists warn consumer spending growth may slow

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Goldman Sachs economists said consumer-facing companies grew solidly in the second quarter, helped by higher-than-expected tax refunds, with sales up 5.9% year over year for the median consumer discretionary firm. They forecast sluggish consumer spending growth ahead as the 3.2% annualized pace remains the main driver of private demand, and P&G sees caution among lower-income shoppers.

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