Consumers Spending Less

After a brief spurt of spending in May (thanks, no doubt, to economic stimulus checks), it appears that consumers are starting to cut back again With gas prices what they are, many are spending less at the store and going back to the old “recession diet.” Indeed, it appears that purchases that would have been considered “basic” not too long ago are now considered “unnecessary.”
The Street reports on information about consumers and their spending habits:
Overall, 55% of consumers said they have started to cut back on living expenses. Not surprisingly, those in lower income brackets are being hit hardest. About …read more