Skip to: Content
Skip to: Site Navigation
Skip to: Search
THURSDAY, NOVEMBER 26, 2009
| Subscribe to Newser's RSS feeds RSS | Follow Newser on Twitter Twitter


1

Shoppers Go Whole Hog for Piggy Banks

Newly frugal consumers use little pink pals to help save

Share

(Newser) – Piggy banks have been flying off the shelves this holiday season, reports Reuters. Newly frugal consumers see the pigs as symbolic of the need to save, retailers say. The savings rate across America has shot up from zero to 2.8% as worried households start to sock away cash—although economists warn that the recession will last longer if consumers cut back too much and savings rates return to the 10% level of the early '80s.

"People were very upfront about the need to save," one retailer said. "The pig is very symbolic of that sentiment."   (©twentynine thirty life)
Retailers have seen a jump in demand for piggy banks this holiday season.
Retailers have seen a jump in demand for piggy banks this holiday season.   (Shutter Stock)
The downturn has sent savings rates up from zero earlier this year to 2.8%.
The downturn has sent savings rates up from zero earlier this year to 2.8%.   (Shutter Stock)
« Prev« Prev | Next »Next » Slideshow
OFF THE GRID
11.24.09
Murdoch and Microsoft: The Mice Are Trying to Roar
11.23.09
Books Are Bad for You
1 comment
VIEWING:
 
radnip
Feb 2, 09 10:30 AM CST
Economists can't figure out that saving = borrowers that are more stable for mortgage and credit card companies...? Isn't unsound borrowers with no downpayments and able only to pay the minumum on credit card debt the problem? Just what are they teaching business and economics students? Reply
Vote up! Vote down!
0
LEAVE A
COMMENT Comment Policy
Facebook ConnectPost this comment to Facebook?

After connecting you will have the option to post your comment on your Facebook profile.

 

Related Newser Stories

105 Stories

PAUL KRUGMAN

Dems Will Regret Not Being Bolder on Economy

Voter backlash is about failure to lower unemployment

Nov 6, 09 6:48 AM CST
(Newser) - Paul Krugman doesn't buy the GOP conclusion that voters Tuesday rejected the Obama agenda. The election just showed that American voters are worried about their jobs, he writes, and this time next year, with unemployment still high, Democrats will likely regret not having been bolder on the economy when... More »

MORE ABOUT:
recession • unemployment • US economy • Paul Krugman • economic stimulus package • Obama administration • President Obama • election day November 2009

OPINION

 Put New 
 Stimulus 
 to Work for 
 Unemployed 

Painful 'new normal' isn't good enough

Oct 7, 09 2:08 AM CDT
(Newser) - Economists are buzzing about a "new normal" of higher unemployment and wage stagnation post-recession, but Americans shouldn't resign themselves to a mediocre economy, writes Harold Meyerson. Downturns triggered by banking crises usually cause higher rates of unemployment for longer periods than normal downturns, but the cycle can be broken... More »

MORE ABOUT:
recession • unemployment • US economy • New Deal • economic stimulus package • job creation

 Obama Mulls 
 Tax Cuts, 
 Spending to 
 Goose Economy 

Grim jobs outlook spurs talks on new stimulus measures

Oct 6, 09 5:52 AM CDT
(Newser) - The Obama administration is examining new ways to boost the economy amid troubling unemployment statistics. The White House and Democratic leaders in Congress are considering strategies that include new transportation spending and an extension of tax credits for first-time homebuyers and small businesses struggling with operating losses. A proposal to... More »

MORE ABOUT:
employment • recession • unemployment • US economy • economic stimulus package • Obama administration

105 Stories


Recession sends savings rates rising
Time

Savings tips for the new year
MSNBC


Business 
TwitterFollow @NewserBusiness on Twitter

 
recession • bank • US economy • savings • coins

from our news partners