Posts Tagged ‘gross domestic product’

Americans Save Up In A Fragile Economy

Thursday, July 1st, 2010

It seems our consumer culture is starting to appreciate a nest egg – spending less and saving more.

  • This May, wary Americans put more into savings then any other month since September, reflecting a cautious financial attitude after the economy’s tumble.
  • This conservative financial attitude comes mostly from sluggish wage growth, which could get even worse at the end of the year when temporary census jobs expire.
  • The gross domestic product takes a blow when consumer morale is low, because it is largely based on spending; meaning that saving – though wise – slows America’s economic recovery.

Facts & Figures

  • In May, the personal savings rate rose +4%
  • At the height of the housing boom in 2005, the personal savings rate was barely 1%

A Recession is…

Wednesday, June 10th, 2009

A recession is when the Gross Domestic Product of a nation declines for two or more quarters. It is when the total value of goods and services of a country stop growing for six months or more.