Consumers Keep a Stiff Upper Lip

New reports show that if the current contractions in housing and consumer spending remain gradual, the economy should stay healthy

How are consumers—and homebuyers—holding up amid the current financial-market and geopolitical uncertainty? Surprisingly well, in ' view, judging from two economic reports for June released July 25. Though U.S. consumer confidence figures are being weighed down by high gasoline prices, falling stock prices, a tightening Fed, and a deteriorating situation in the Middle East, the numbers remain notably robust, with significant strength in the important "present situation" index.

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