These statistics show why consumer spending may not be able to avert an economic downturn. The consumer may already be near their maximum capability to spend.
Both of these statistics were based on data from before the mortgage and credit crisis. I expect the percentages are now even higher, making it more difficult for the consumer to save the economy.
For more on The Practice of Personal Finance, check back every Wednesday for a new segment.
This is not financial advice. Please consult a professional advisor.
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1 comment:
Good points. Don't forget that oil is down from its highs, but still higher than six months ago. The pain isn't over yet in my opinion.
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