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Business See other Business Articles Title: is the bush govt hiding the fact we are in a recession?
Source:
marketwatch
URL Source: http://www.marketwatch.com/news/sto ... 1DE7-4524-B375-3147FF58F70D%7D
Published: Nov 29, 2006
Author: marketwatch
Post Date: 2006-11-29 00:58:51 by TLBSHOW
Keywords: None Views: 258
Comments: 2
The widespread assumption was that when gas prices came back down, spending would resume on such customary rites as eating out at moderately priced restaurants. One report said billions in consumer budgets would be freed up. But figures from the world's biggest casual-dining chain, Applebee's International Inc. (APPB), challenge that theory. The bar-and-grill giant posted a 3.1% decline in same-store sales for most of November - the eighth month this year of negative numbers. Coming on the heels of a disappointing November report from retailing giant Wal-Mart Stores Inc. (WMT), which attracts many of the same customers, Applebee's performance raises questions about the economic well-being and confidence of the American consumer.
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