And that wealth effect could cause consumers to cut back on spending far more than they did after their stocks lost value.

Business investment is still growing briskly, and so far consumers haven't cut their spending.

The economy slowed during the spring as consumers cut back on their spending, Government figures showed today.

High costs aren't the only force that will influence consumers to cut back.

But others say information technologies can help countries and consumers cut back by eliminating the waste.

One holds that consumers, pressed for cash, will soon cut back, pulling down the economy in the process.

If consumers are made poorer by higher oil prices and cut back instead, that assumption goes out the window.

Just as costs are rising, the industry is threatened with lower revenues because consumers might cut back on travel plans.

So, if oil prices stay high, consumers will cut back in a number of areas, economists say.

Analysts said that consumers might cut back spending even further because of rising oil prices.