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Consumers Not Buying... Um, Anything

Worried Americans scaling back spending, saving more—bad news for retailers

By Jim O'Neill, Newser User

Posted Nov 12, 2008 10:16 AM CST

(Newser) – The US consumer has “gone from being the world economy’s greatest strength to its Achilles’ heel,” writes David Leonhardt in the New York Times. Just as Wall Street’s turmoil begins to calm, consumer spending—an economic mainstay—has gone into hiding,... Read full story »

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Consumers Not Buying... Um, Anything

Worried Americans scaling back spending, saving more—bad news for retailers

General Motors • consumer spending • savings • Circuit City • financial crisis

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More Newser Stories

Consumer Spending Rises in Jan.

But experts don't expect boost to last

US GDP Jump Hollow if Unemployment Keeps Rising

... and it's still rising faster than before recession

Oldsters Refusing to Step Aside to Free Up Jobs

Reliance on volatile 401(k)s breeds reluctance to retire

Lousy Retail Sales Will Delay Recovery

Recession isn't over as far as consumers are concerned

Stimulus Boosts Americans' Incomes

Consumers tuck funds away: Savings rate hits 16-year high

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