End of excessive consumption?

The crisis forces people in United States and Europe as well for saving as much as possible. According to many experts, ‘the culture of forced consumption’ will not return.

Due to the fear of unemployment, and the loss of income the U.S. savings rate of the population has increased from zero to four percent in last year – reports Világgazdaság. The European savings rate also increased. In these critical times, caution is normal thing. According to Jonathan A. Parker, the professor of Kellogg School of Management not only at the time of the crisis, but after the American families will save more than ever before. According to the survey of Pew Research Center, increasingly part of the Americans are consider microwave ovens and other household products as a luxury rather than necessity. The economic crisis also had a positive impact on saving willingness of the Hungarian households: the savings rate remains at a relatively low level – in the vicinity of The one and a half percent of the GDP.