Economy: “Body Contouring” and Divorce

We’ve been in a recession, and many analysts have been looking at things like stock market performance, the housing market and unemployment to determine whether or not the economy might begin a recovery soon. But these aren’t the only economic indicators out there: Personal finance spending habits can also provide clues about how the economic recovery is proceeding.

I recently read in The Street that vanity procedures and divorce are both down this year. Probably due to the fact that things are rather expensive. Indeed, things like breast augmentation and cosmetic dentistry have taken a hit. And people are putting off divorce until they can better afford the legal fees and other expenses that go with it. Here are some of the interesting tidbits from the article:

• Dental implants are being rejected in favor of bridges.
• Tummy tucks are down.
• Breast augmentation is down.
• Divorce usually drops by a 2-to-1 margin in a recession.

However, while some things are pulling back, there are some items that are doing quite well right now. Anxiety medication and antidepressants are selling faster this year. As people try to cope with the uncertainty and distress that financial problems can bring (not to mention attempts to avoid divorce), people are seeking a little help dealing with their issues.

So, how do we know when the economic recovery is underway? People will start spending money on cosmetic procedures, divorce will start to increase, and anxiety medication will loss in popularity.

Image source: FDA via Wikimedia Commons