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Javelin Strategy & Research
New Study Shows Declining Credit Card Use Among Americans Due to Economic Downturn
August 24th, 2008
Financial research firm Javelin Strategy & Research (www.javelinstrategy.com) released its latest report on credit cards and consumer spending, which shows that Americans are cutting back on credit card use and having difficulty paying off balances. The report indicates conservative spending behaviors as a result of the economic downturn and the ramifications of the mortgage crisis, soaring fuel costs and rising food prices. "The sharp decline in credit card spending challenges the popular belief that Americans are charging basic goods in order to sustain their quality of life," said Jim Van Dyke, president of Javelin Strategy & Research. "Consumers are making...
Source: Pharma Investments, Ventures & Law Weekly (2008-08-24)
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