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Consumer spending holds up in the face of higher gasoline prices. A number of reasons offered for this- a large portion of consumer spending coming from affluent households, the rebound in stocks, the higher fuel efficiency of vehicles in 2011 reducing the impact of higher gasoline prices, and low natural gas prices so that electricity prices are not affected.
Grouped Articles
In Consumer Behavior, Signs of Gas Price Pinch
New York Times 05.17.2011
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Why Are Investors Fleeing Equities? Hint: Its Not the Computers
New York Times 08.06.2012
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