Washington ? People may feel less inclined to be big spenders this year as the housing market slips from its lofty perch, developments seen as producing slower, though still respectable, economic growth this year.

That is the picture emerging from economists, most of whom are projecting growth to top 3 percent in 2006.

Many analysts are hopeful the high-flying housing market will scale back at a moderate pace, boding well for a safe landing. A crash of a sector that has reliably supported consumer spending and economic activity for five years running could imperil the entire economy.

Rising interest rates and the toll of high energy bills also will play a role in the expected belt-tightening by consumers this year, economists say.

Consumer spending probably will increase by about 2.9 percent in 2006, compared with a projected 3.5 percent rise for 2005, according to the National Association for Business Economics.

The association and other analysts are forecasting economic growth this year of 3.3 percent, compared with a projected 3.6 percent increase for 2005.

The government’s tally of 2005’s economic performance, including consumer and business spending, will be known later this month with a report on the gross domestic product. It measures the value of all goods and services produced in the United States and is the most important economic gauge.

Consumer spending accounts for a big chunk of economic activity. Economists are confident that if people’s appetite for new purchases should wane, business investment and other parts of the economy will pick up and temper the decline.