Economy gains traction in spring; shrank year end (AP)

Courtesy Ytop stories  Thu, 07/31/2008 - 7:48am

Stephanie Simon, an employee of Target, works on the back to school display, Tuesday, July 29, 2008, in Tallahassee, Fla.<br /><br />The nation's retailers are entering the critical back-to-school season, the most important period behind the holiday season.<br /><br />However, economists — who closely monitor sentiment since consumer spending represents about two-thirds of all economic activity — didn't interpret the slight uptick as a beginning of a rebound in shoppers' mood.<br /><br />(AP Photo/Phil Coale)AP - Economic growth picked up in the second quarter as tax rebates energized consumers.

The rebound followed a treacherous patch where the economy jolted into reverse at the end of 2007.



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