Is the Rebate Rebound Losing Steam?

S&P economists say consumers spent the rebates faster than expected in the second quarter

The tax rebates have boosted consumer spending in recent months, but signs suggest the impact is beginning to wear off. Consumers spent the rebates more rapidly than expected in the second quarter, giving a boost to non-auto sales, but chain-store sales data suggest that because the sales came rapidly, they also will be over more quickly.

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