And the surge in auto purchases, some economists suggested, came in part because of deep discounts from carmakers.

An advance report on February's retail sales said auto purchases were down another 1.7 percent last month.

"People haven't been canceling auto purchases," she said.

A rebound in auto purchases and surging gas prices gave retail sales a strong 1.1 percent gain.

The drop was attributed to anticipation that taxes on auto purchases would be cut.

Over all, the sales figures, aided by robust auto purchases, rose by seven-tenths of a percentage point.

There has been no real financing of auto purchases.

Key areas of the economy, such as housing, auto purchases and corporate spending on new equipment, should pick up quickly.

"Housing should begin to slow; auto purchases and revolving credit need to decline," she said.

Founded in 1919 to finance auto purchases, Heller did not offer its shares to the public until 1998.