After a summer of splurging, Americans start to pull back on spending
LA TimesA customer browses the holiday lights at a store in Charlotte, N.C. Economists forecast a slowdown in consumer spending in the final three months of the year, as credit card debt and deliquencies rise, and average savings fall. Consumer spending jumped in the July-September quarter, but economists forecast it will slow in the final three months of the year, as credit card debt and delinquencies rise, and average savings fall. Most retail categories reported a drop in sales, including gas stations and auto dealers, which partly reflected price declines last month in both categories. On Tuesday, Home Depot, the nation’s largest home improvement chain, reported that sales continue to slide as customers cut back on spending for big-ticket items like appliances, and spent less on big renovation projects. The government’s monthly retail sales report offers only a partial look at consumer spending; it doesn’t include many services, including healthcare, travel and hotel lodging.