Archive for the ‘consumer spending’ Category

United States firms recall over 90,000 Taiwan, Vietnam-made toys

October 13, 2007

Saturday, October 13, 2007
By Natasha T. Metzler, AP

WASHINGTON — More than 90,000 children’s products, most imported by J.C. Penney Co. Inc., are being recalled for containing dangerous levels of lead, a government safety group announced.

J.C. Penney recalled Chinese-made Winnie the Pooh play sets and decorative ornaments with a horse theme, as well as art kits made in Taiwan and Vietnam. Totaling 70,400, the toys imported and sold by J.C. Penney all had excessive levels of lead in their surface paint.

Lead is toxic if ingested by young children. Under current regulations, children’s products found to have more than 0.06 percent lead accessible to users are subject to recall.

Consumer Product Safety Commission spokeswoman Julie Vallese said this round of toy recalls is “the direct result of the commitment that was made earlier this summer of cleaning the proverbial house.”

Read the rest at:

U.S. economy weakens further

September 15, 2007

By Patrice Hill
The Washington Times
September 15, 2007

The economy weakened further last month amid housing and credit market turmoil, with consumers feeling less confident and pulling back spending at shopping malls while output at the nation’s factories fell for the first time since February.
The latest reports on the economy yesterday strengthened the case for the Federal Reserve to cut interest rates at a meeting scheduled for Tuesday to ensure the economy does not slip into recession. The most important underpinning for the economy — consumers — were noticeably undercut by the crisis on Wall Street during August as well as rapidly declining home sales.

Read the rest: