Saving Surge as Spending cut more than Income

INNO
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Notice the chart.
American consumers are behaving exactly like the Chinese consumers in the article I just posted. Human beings react to uncertainty the same all over the world. They become cautious.

Danielle DiMartino Booth of Quill Intelligence..
‘Spending cuts exceeded income gains in March, generating a moonshot for personal savings; the backlog of unemployment filings signals a sustained improvement in consumption will elude absent a labor market recovery as unapproved claimants are deprived of any income.’

Jeff W, guest blog

 

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