US Consumers Had Negative Savings Rate in 2005-First Time Since Great Depression

Thread Rating:

0 Vote(s) - 0 Average
1
2
3
4
5

Threaded Mode | Linear Mode

US Consumers Had Negative Savings Rate in 2005-First Time Since Great Depression

02-01-2006, 10:27 AM,

Post: #1

mandy Offline

Administrator

Posts: 9,932
Likes Given: 0
Likes Received: 6 in 5 posts
Joined: Feb 2011
Reputation: 0

US Consumers Had Negative Savings Rate in 2005-First Time Since Great Depression

Quote:U.S. consumers spent more than they earned in 2005, resulting in a negative rate of saving for the first time since the Great Depression, the government reported Monday. Savings as a percentage of income fell to minus 0.5 percent in 2005, down from 1.8 percent in 2004.

The negative saving rate "is a cautionary sign for future spending as sometime in the future, we need to get our financial houses in better order," says Joel Naroff, president of Naroff of Economic Advisors.

However, other economists said the measure was a misleading gauge of Americans' balance sheets...

full article: http://www.ecommercetimes.com/story/VFOO...tory.xhtml

« Next Oldest | Next Newest »

Possibly Related Threads…
Thread		Author	Replies	Views	Last Post
	Marketing to Chinas Diverse Consumers	mandy	0	3,088	01-01-2008, 12:39 PM Last Post: mandy
	U.S. Current Account Deficit Hits All-Time High, February Retail Sales Fall 1.3%	mandy	0	2,117	03-15-2006, 10:55 AM Last Post: mandy
	China's ecommerce sales grew 58% in 2005, Taobao's transactions value beats eBay	mandy	4	3,678	03-11-2006, 01:23 AM Last Post: bargainbloodhound

Forum Jump:

Users browsing this thread: 1 Guest(s)