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"[At a minimum, this will hit consumers' pocketbooksâââ‰â¬Âand perhaps their confidence. Before Katrina, Goldstein estimated that consumers' annual fuel bills this year would average about $250 more for gasoline and $400 more for home heating oil and natural gas than in 2004. Now he reckons those amounts will go up 30 percent to 75 percent. Costlier energy could adversely affect consumer spending, corporate profits and inflationâââ‰â¬Âor all three.] We could be reaching a tipping point on consumer psychology, especially when people get their home heating bills, ... Those will be big."
"[At a minimum, this will hit consumers' pocketbooksâââ‰â¬Âand perhaps their confidence. Before Katrina, Goldstein estimated that consumers' annual fuel bills this year would average about $250 more for gasoline and $400 more for home heating oil and natural gas than in 2004. Now he reckons those amounts will go up 30 percent to 75 percent. Costlier energy could adversely affect consumer spending, corporate profits and inflationâââ‰â¬Âor all three.] We could be reaching a tipping point on consumer psychology, especially when people get their home heating bills, ... Those will be big."
Mark Zandi
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