Merchants Grow Cautious About Second Half

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NEW YORK -- As she watches the price of gasoline spike higher, Sarah Wilmes is approaching the breaking point.

The accountant and mother of two so far hasn't cut back on back- to-school spending for her two elementary school age children, although gas prices have surged to a nationwide average of $2.55 a gallon. But, the Kearney, Mo., resident said on a recent trip to a shopping mall, it's getting hard to ignore the ever-increasing cost of filling up.

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Merchants Grow Cautious About Second Half

"It's to the point now where a couple of weeks can affect the budget you were used to six months ago or a year ago," Wilmes said. "You wonder if there is an end in sight."

While middle-income consumers like Wilmes have surprised economists in...

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