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 October
Consumer Outlook: Hurricane Ripple Effects Hit
Spending Plans
Retail Forward's Future Spending Index turned
sharply lower in October, indicating that shoppers
intend to curtail their spending this month.
The index dropped to 94.0 from 104.6 in September.
"The economic side effects of Hurricanes
Katrina and Rita have sent a collective shudder
through the consumer sector," said Steve
Spiwak, an economist with Retail Forward. "Higher
energy costs are the main culprit for the falloff
in spending intentions for October. But the
storms also have heightened concerns about job
security and the direction of equity markets,
contributing to the soft near-term outlook." Click
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