Source: usatoday.com


WASHINGTON Markets have the shakes. The housing area is looking for a bottom. Consumers seem fatigued.

New-home sales are losing 20% from previous year, and Bernanke warned that housing will be a drag on the economy into after that year, even if things start to revolve around, specified the large record of unsold homes to be worked through. Consumer wasting, two-thirds of the economy, held the upturn together in the early on part of the year, but gains slumped this spring. Consumer self-assurance rose in July, but USA TODAY polls find a greater part of respondents expect conditions to get worse. Economists have been counting on firm wage growth and a tight labor market to blunt few of the impacts of upper gasoline prices and the housing sell slump.