Glum U.S. consumers to cut debt, raise saving | Survival News Network

« Vegetables can be pretty, too E. coli outbreak spreads to three more states » Jul 24 2008 Glum U.S. consumers to cut debt, raise saving Posted by: Joshuah in News See, the problem is that these actions by people should really be undertaken during the ‘fat years’ rather than waiting until things are already lean. Via: Reuters Americans, unnerved by a worsening job market and sky-high oil prices, plan to pay off debt and boost savings in preparation for expected further economic turmoil, according to a survey from Reuters and the University of Michigan. Half of U.S. consumers polled said they plan to speed up reducing their debt and a third said they plan to save more in the year ahead, according to the survey, which will be released next week. “Most of the planned declines in debt and increases in savings are intended as a precautionary measure in the face of a deepening economic downturn,” Richard Curtin, director of Reuters/University of Michigan Surveys of Consumers, said in a statement on Friday ahead of Tuesday’s release of the poll. The Reuters/University of Michigan’s widely followed U.S. consumer sentiment index has fallen sharply this year, as the economy slows and oil prices hit record highs. This entry was posted on Thursday, July 24th, 2008 at 9:22 pm and is filed under News. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed. Leave a Reply Name (required) E-mail (will not be published) (required) Website	Portable Solar Electronics Charger - 17-0340
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