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The Boston Globe

Business

Shaken consumers cut spending

Closed wallets do little to stoke recovery

John Bresnihan was going to buy a new car - until fears of another recession gave him cold feet.

“I was feeling more optimistic before, but the economy’s turning again for the worse,’’ said Bresnihan, 33, a social worker from Belmont. “I feel like I can’t get into a big purchase right now.’’

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