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Summary Box: Financial crisis moves to stores

03-10-2008 - 07:26

MELTDOWN MOVES TO THE MALL: Stores worry the financial meltdown will make for slower sales this holiday season. They're stepping up discounts on fall goods.

'TIS THE SLOW SEASON: The outlook for the holiday shopping season was already grim because of the weakening economy. Some analysts had predicted that the holiday season could have its weakest growth in 24 years.

FROZEN OVER: The tight credit market means shoppers are having a harder time getting loans or paying with credit cards. Consumer spending makes up two-thirds of the economy, so that could tilt the nation toward recession.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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