The world's number one consumers prefer saving

By: trademagazin Date: 2009. 10. 09. 00:01

U.S. public credit has been reducing for the seventh month in August, after households decreased their consumption and the banks have reduced the crediting limits.

According to FED datas; the total public loan portfolio decreased by 5.8 percent in August, which means a 12 billion USD decrease annually. The expectations of the analysts were 10 billion USD. Consumers are spending less and saving more, because of the rising unemployment, stagnant wages, and the decrease of property prices – reports

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