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Coca-Cola executives also expressed doubts about the strength of consumer spending.
Still, most analysts say the timing and strength of consumer spending cannot be explained without referring to the tax cuts.
The strength of consumer spending has led many economists to argue that America is headed for a soft landing.
Slow holiday sales were widely expected, but the news could still raise concerns about the strength of consumer spending and, in turn, the economy.
He said there were still uncertainties about the strength of consumer spending and business investment, and he indicated he was concerned that the recovery might be tepid.
Continuing uncertainties over the strength of consumer demand, centered on the pace of economic recovery and the potential for further threats to national security, cloud the outlook.
Similar(28)
The monthly survey of same-store sales is used as a gauge for buoyancy in the retail sector and the strength of consumers.
With corporate executives still reluctant to invest in new equipment and nearly every other large economy in the world struggling, the strength of consumers' resilience will play a central role in determining the economy's path well into the future.
On the strength of strong consumer businesses, the two large banks posted healthy profits in the second quarter, buoying the market over all and bank stocks in particular.
These results are reassuring, although there remains a big question mark on the strength of the consumer in the next few months".
As the fortunes of their investment and consumer banking units seesaw, banks might seem tempted to increase their the most profitable businesses and take more risks on the strength of American consumer.
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