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The Stagnation Two-Step: Pessimism and Spending

The Stagnation Two-Step: Pessimism and Spending. Richard Curtin Research Professor and Director Surveys of Consumers University of Michigan. Chart 1: Consumer Sentiment Falls Back Toward Recession Lows. Near All-time recession lows. 2011:1 = 73.1 2011:2 = 71.9 2011:3 = 59.6 2011:4 = 62.6p.

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The Stagnation Two-Step: Pessimism and Spending