The highest savings rate in 15 years signaled consumers may pare spending in US – the housing recession, the loss of jobs having direct effects
Sam Adelton
Jun. 27, 2009

The US consumers are cutting back on everything. The house price plunge has dampened the consumer sentiment. The US Commerce Department reported that the savings rate among Americans reached 6.9 percent in May, the highest since December 1993, spurring concern that consumer spending would fall much further. Everyone is worried over the long term.

The U.S. economy shrank at a 5.5 percent annual rate in the first quarter, capping the worst six-month performance in half a century, according to a Commerce Department report. The number of Americans filing claims for unemployment benefits unexpectedly rose last week, a reminder that companies will keep cutting staff even as the economy stabilizes.

The highest savings rate in 15 years signaled consumers may pare spending in US – the housing recession, the loss of jobs having direct effects
Sam Adelton
The US Commerce Department reported that the savings rate among Americans reached 6.9 percent in May, the highest since December 1993...
READ MORE>>

Brazil, Russia, India, and China start discussing removing US dollar as the world benchmark currency
Sagar Malhotra
It is a complex issue, says Indian Prime Minister Manmohan Singh.
READ MORE>>

Obama must wake up and watch Standard and Poor’s decision to downgrade its outlook for British sovereign debt from 'stable' to 'negative'
Joe Weinman
With no change in policy, it could hit 100 per cent of GDP in the next three years.
READ MORE>>

Eurozone’s banking system ready to meltdown before that of US – the only exception is Germany
Marla Guthrie
The impact on the world economy will be immense.
READ MORE>>

G8 starts reversing the emergency steps they took to rescue the world economy as it shows signs of recovery – Dow starts topping out
Sam Adelton
We discussed the need to prepare appropriate strategies for unwinding the extraordinary...
READ MORE>>

The Government induced bear market rally – the sparking consumer confidence from stimulus money touches Australia
Sam Adelton
Australian consumer confidence jumped by 11 points in June...
READ MORE>>

Ted Kennedy determined to deliver the most fundamental freedom and human right for the common Americans – Guaranteed healthcare for all American citizens and legal residents
Special Correspondent
Individuals would be able to purchase insurance from new exchanges operated by the...
READ MORE>>

India’s total IT exports from Northern region grew by a whopping 30 percent; with Infosys becoming the top exporter
Special Correspondent
Performing against all odds, export of software and IT enabled services from...
READ MORE>>

MORE ARTICLES >>