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Auto sales likely won't rebound "until consumers get their confidence back, and that may not be until next year," he adds.
Employers aren't going to do a lot more hiring until consumers buy more products.
Even as companies develop nutritious products, they will keep marketing fizzy drinks and crisps until consumers stop buying them.
"Until consumers can see and respond to real-time prices, price caps will remain a necessary evil," Mr. Borenstein said.
"Until consumers see their phone bills in a couple of months, they won't make a decision" to leave AT&T.
It will be a while, however, until consumers are able to shop for Athleta gear on Gap's Web site.
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The next increase in benefits will not come until consumer prices rise above what they were in the summer of 2008.
The bank's commitment to print more money until consumer prices stop falling will push the yen lower.
It certainly true that Tokyo needs to hike its equivalent of VAT from 5%to10%0% and probably beyond, but not until consumer confidence is re-established.
Meanwhile, the cash-short phone companies are reluctant to invest any more in the new networks until consumer demand picks up again.
That process is about at an end, and until consumer and business demand accelerates, growth will probably be slower, economists said.
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