Debt burden lifting - increases consumer sales

 

MAY 1, 2012 Tuesday  U.S. Consumers' Debt Burden Is Shrinking Writeoffs, foreclosures, and low interest rates have driven Americans' debt obligations down from 14% of disposable income in 2007 to 10.9% at the end of 2011, the lowest point since 1994, according to The New York Times. Consumers thus have more money to spend on other things. That may be one reason for the recent strength in retail sales, the newspaper says. Source: Debt Burden Lifting, Consumers Open Wallets a Crack