As millions of consumers are still struggling to get their finances under control in the new year, many experts are now predicting that consumer spending will likely slip somewhat compared with the growth seen in the last quarter of 2011.

Financial difficulties are still plaguing many Americans years after the apparent end of the recent recession, and these problems are expected to depress consumer spending in the new year, according to a report from the New York Times. The forecasting company Macroeconomic Advisors believes consumer spending will grow roughly 2 percent in the first half of the year, down from about 3.6 percent in 2011s fourth quarter, but up slightly from 1.8 percent in the third quarter.

Consumer spending accounts for 70 percent of the economy, the report said. Read more…