But better days are ahead. Second, stock prices have fallen far, leading some to believe that the bear is losing teeth. Third, and most important, consumers may not slam on the brakes. Car sales, thanks to lower rates and rebates, are inching up. Diane Swonk, chief economist for Bank One in Chicago, says some automakers are talking about revising production schedules upward, instead of down.
Consumers say they're worried, but they keep pulling out their wallets to snap up bargains.
Yes, it's no longer a boom. And caution is the watchword.