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The Shadow Of The US Recession Has Slowed Household Consumption.

2011/3/28 10:31:00 30

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US Recession Family Consumption

The United States Federal Council released the latest report in March 24th, from 2007 to 2009.

Economics

In the two years of recession, the average family size in the United States

wealth

Down 23%.

The shadow of economic recession is still unresolved, and many families are still afraid to expand.

consumption

That will affect economic recovery.

To measure the impact of economic recession on individual families, the Federation conducted a rare household wealth interview. The results showed that the average net family wealth in the United States dropped from $125 thousand in 2007 to $96 thousand in 2009.

The report shows that

The family lost the most, and their portfolios evaporated more than 1/3, averaging from $18 thousand and 500 to $12 thousand.

The market value of the main residential housing also decreased by an average of 18 thousand and 700 US dollars.

While family wealth has shrunk dramatically, families

Liabilities

There has been an increase.

The average household debt level rose from $70 thousand and 300 in 2007 to US $75 thousand and 600 in 2009, but household income declined from US $50 thousand and 100 in 2007 to US $49 thousand and 800 in 2009.

Interestingly, in 2007, the lower income families under the average annual income increased in 2009. On the contrary, the higher income families in 2007 declined after two years.

Among them, the wealthiest families with the top 10% wealth net income in 2007 declined by 13% on average, mainly due to reduced profits in capital investment and lower income from business, agriculture and self employment.

The average net worth of these households was $2 million 40 thousand in 2007, and the average decrease was about $449 thousand as of 2009.

75% of them lost 36 thousand and 400 dollars during the recession.

This report points out that no matter how the US family passes through the financial turmoil, consumers will consistently reduce spending and increase savings, which will slow the economic recovery, because about 70% of the growth power comes from consumption expenditure.