Friday, May 11, 2007

Americans cut savings as stock prices rise-survey

(Reuters) - "Most of the spending gains have been among higher income households, who reported in April that the positive impact of rising stock prices was offset by concerns about falling home prices," said Richard Curtin, director of consumer surveys at the University of Michigan.

"How the tradeoff between rising stock prices and falling home prices is assessed is a critical issue for the May survey," he said.


Read more at Reuters.com Economic News

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