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Coach CEO says US already in "consumer recession"

Wed Jan 23, 2008 8:22am EST

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NEW YORK, Jan 23 (Reuters) - Consumers in the United States are already acting as if they were in a recession despite what economic indicators show and would benefit from a tax stimulus package, Coach Inc's (COH.N) chief executive said on Wednesday.

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"My own view is that we're already in a consumer recession," Chief Executive Lew Frankfort told Reuters.

"We do need a tax stimulus package," he added.

Frankfort said interest rate cuts boost consumer confidence that federal regulators are concerned about the economy, but tax rebates can actually spur spending. (Reporting by Martinne Geller, editing by Gerald E. McCormick)

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