Recession Special: Americans are supposed to be the... - NBC New York

Recession Special: Americans are supposed to be the...

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    Recession Special: Americans are supposed to be the...

    Americans are supposed to be the best shoppers in the world. Not only do we love stuff, but we're relentless optimists. Right now, though, we might be losing that reputation. "Suddenly, our consumer society is doing a lot less consuming. The numbers are pretty incredible. Sales of new vehicles have dropped 32 percent in the third quarter. Consumer spending appears likely to fall next year for the first time since 1980 and perhaps by the largest amount since 1942." The relentless American optimist in us would like to remind you all that this translates to lots and lots of sales—expect the Dealfeed to be flooded these next few weeks. [NYT]

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