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Retailers see economy staying tough
for shoppers


from Reuters

High gasoline and food prices and a slow recovery in jobs will continue to weigh on consumers this year, except for those that buy $98 yoga pants and $400 baseball bats, retailers and manufacturers said. Consumer spending was flat for the first time in 10 months in May and consumer confidence fell in June. The data came as no surprise to executives who spoke this week at the Reuters Consumer and Retail Summit, most of whom said their customer is still under pressure two years after the U.S. recession officially ended. more


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