When consumer spending stalls it’s bad for the economy — but on the other hand it seems that people are saving money and paying down debt. [More]
savings rate
Your Piggy Bank Is Happy: Savings Rate At 14-Year High
By 3.2.09
Americans took their cost of living raises and stuck them in their piggy banks, says the Commerce Department, pushing the savings rate to a 14-year high. Not long ago we had a savings rate of 0.1% — now it has skyrocketed to 5%.
