Econchart Oldtimes 112009
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US households had started rebuilding their balance sheets and increasing their savings rate to 5% but since July the savings rate has been declining as spending has begun outpacing disposable income again. A troubling trend shows that in June 2009, personal consumption spending started exceeding personal disposable income signaling that consumers may be returning to unsustainable spending habits as seen before the economic crisis.
Econchart Oldtimes 112009
- 1. A troubling trend is back US households had started to rebuild their balance sheets when the current crisis started, the savings rate rose to 5%, according to the Bureau of Economic Analysis But since July, the savings rate is declining, spending is again outpacing disposable income US consumers: Back to the old times ? In June 2009, spending started to outpace income again USD billion White Shapes: Spending is higher than Income 10,300 Personal Consumption 10,100 back times old 9,900 S av i n g s S av i n g s 9,700 Real Disposable Personal Income Source: U.S. Department of Commerce 9,500 Jan 2008 to Oct 2009 Dec 2008: Consumers Jun 2009: Spending again start to save outpacing Income Orders for Reprint at Nov. 30, 2009 www.markusgaertner.com GAPA NEWS