Consumers cut spending to buy lifestyle items:
Nielsen retail measurement services executive director Teguh Yunanto said Tuesday the survey on fast moving consumer goods market movement showed consumers were likely to cut spending on household needs to buy lifestyle items such as mobile phones, motorcycles and cars.
US consumers cut their spending in November and orders for costly manufactured goods slumped again, while claims for jobless aid last week hit a 26-year high as a year-old recession tightened its grip.