The US Economy Is Sluggish, Consumers Keep Their Purse Tight.

According to a latest survey conducted by The Associated Press, 53% of Americans surveyed said their spending on holiday gifts at the end of this year was lower than that of the same period last year.

This result indicates that the economic downturn in the United States has affected consumer behavior.

According to the The Associated Press survey, the proportion of shopping expenditure at the end of this year will be 40% last year.

So in proportion, almost every American will not spend more on the end of the year than last year.

In the United States, the most important selling season in a year is at the end of the year, and half of the annual sales of many businesses come from this.

However, because of the recession, credit crunch and unemployment rate, it is hard for American consumers to spend money this year.

The survey also shows that the desire for consumption of all income groups is affected.

Of those surveyed who earn less than 50 thousand dollars a year, 61% said they would reduce year-end expenditure.

Of the respondents who were above $50 thousand in annual income, 47% of them were prepared to cling to their purse "new year".

Helen, an insurance agent who has been investigated, said she and her husband were prepared to cut their spending at the end of the year by half from $2000 last year.

"All the news I hear is that the economy is falling.

I worry that my income will also decrease in the future, so I need to save more money.

According to the data compiled by Goldman Sachs and the International Shopping Center Association, retail sales in the US fell 2.7% in November, the worst performance since 1969.

Many retailers expect the end of this year's sales season to end in a weak economic environment.

Yang Jing: editor in charge