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Consumers are spending big on cars, housing, e-commerce, appliances and home projects ("C.H.E.A.P.") at the expense of new clothes and electronics, according to Citigroup.
Growth for the first quarter of this year came in 1.8%, down from the previous estimate of 2.4%. What happened?
Private equity money is pouring into value chain restaurants as consumer spending on dining out is at an all-time high.