I would like to know what is included in "services" - often it's things like lawyers, tax help, doctors, car repair people etc. All are things we need and are in no way extras like eating out or going to a cultural event. People are saving and not spending.

By Carrie Ballard | August 22, 2011 4:40 PM

Bad news if you think that our economies can grow bigger and bigger. I think that we are thinking of this growth in completely the wrong way, as linear measurable growth. What if we thought of this growth as using our economic resources more efficiently, rather than just always more, more, more? Anyway, this is the clearly the beginning of another recession in my opinion: more unemployment, less consuming, and a big and growing real estate bubble. I'm not sure that people are saving more, I think things just cost more and that's where this money is going - to pay for inflation.

By Bill | August 23, 2011 6:28 AM

what did they expect ? inflation for everything - massive hikes of gaz and electricity bills,train tickets,rents etc...this is just the answer

By jessie | August 24, 2011 12:07 AM