Consumers tighten their purses as the economy retrenches!

As the economy retrenches, the consumers have started to spend less and less,one clear indication that the recession is about to start in full swing. With the shape that the economy is in and with the prices of Oil and essential commodities hitting an all time high, it is no wonder that the consumers are tightening their purse strings.

What is more, with banks not that interested in lending any more, it only makes sense for the consumer to spend a lot less than he or she used to do so before.