Shell-Shocked Americans Still Aren’t Buying Anything
Vincent Fernando, CFA
July 1, 2010
Despite a small rebound from crisis-lows, this long-term chart from Deutsche Bank keeps the rebound in perspective.
Americans’ discretionary spending remains at the lowest level in at least 60 years, as a percentage of GDP. This is despite strong sales of iPads and iPhone 4’s, which makes Apple’s (AAPL) continued success with new product launches even more commendable.