Where the Axe Is Falling

Traders Blog | Wednesday 3 June 2009
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Courtesy of Michael Panzner at Financial Armageddon

Reuters‘ MacroScope blog — they’ve got a good number of them, including Commodity Corner, DealZone, Global Investing, Global News Blog, Hedge Hub, and others which I’ve just added to my blogrolls and feed reader — highlights a recent global survey that details just where the axe is falling as far as consumer spending is concerned:

An Ipsos/Reuters poll of 23 countries found that cuts in household spending have remained constant during the past six months with entertainment, vacations and luxury items the first to go for nearly three quarters of families, followed by clothing, energy consumption and gasoline/driving.

The 23 countries polled,  including the United States, Canada, Brazil, Germany, Britain, Sweden, China and Japan, make up 75 percent of the world’s gross domestic product.

Where are you cutting back on spending?

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